Queen Elizabeth Involved in Tax Scandal After Leaked Documents Surface

Queen Elizabeth is at the center of a tax scandal as leaked documents reveal that she invested as much as $13.2 million in offshore tax havens.

The 13 million files, which have become known as the “Paradise Papers,” detail the Queen’s private income fund and how funds were placed into accounts held in the Cayman Islands and Bermuda, according to BBC’s Panorama program.

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The private fund, which is called Duchy of Lancaster estate, is worth around $655 million. The Queen, 91, is provided $25.2 million per year. She agreed to pay taxes on the amount in 1992 after a fire destroyed much of Windsor Castle.

The Guardian, one of the many media outlets pouring through the “Paradise Papers,” learned that a small amount of the Duchy of Lancaster’s offshore money was invested in a British retailer called Brighthouse. The company has been criticized in the past for not being a “responsible lender.”

According to a spokesperson for the Queen, she would not have been aware of the investment decisions made by the Duchy. The estate is managed by the Duchy Council and all investments are made by fund managers and consultants, according to PEOPLE.

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A spokesperson said in a statement, “We operate a number of investments and a few of these are with overseas funds. All of our investments are fully audited and legitimate. The Dover Street investment [in the Cayman Islands] was bought in 2005 and forms only 0.3% of the total value of the Duchy.

“The Duchy’s investment in Bright House is through a third party and equates to £3,208 — just 0.0006% of the Duchy’s value. The Queen voluntarily pays tax on any income she receives from the Duchy,” the statement continued.