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News > World

Another Cameron-Linked Offshore Account Surfaces

  • British Prime Minister David Cameron

    British Prime Minister David Cameron | Photo: AFP

Published 8 April 2016

Former Mayor of London  Ken Livingstone  said Cameron should face a jail sentence for his involvement in the tax avoiding scheme.

British Prime Minister David Cameron's father was linked to a third offshore investment fund today, the United Kingdom's Channel 4 reported today.

The fund, based in the tax haven of Jersey, was called PMG Eagle Fund Limited and operated between 1996 and 2000, and Ian Cameron owned 5,000 shares of the fund, a relatively small amount.

RELATED: British PM Admits Stake in Father's Offshore Investment Fund

Channel 4 uncovered further funds bearing the name PMG Eagle branding in the Cayman Islands and Bahamas. The discovery was made independent of the Panama Papers, and ownership of the funds wasn't immediately possible due to secretive laws in those nations.

A Twitter campaign launched on Friday has called on British Prime Minister David Cameron to step down from his post a day after he admitted to profiting from an offshore trust fund set up by his father, and the new revelation will undoubtedly fuel the campaign's efforts.

Pressure is mounting on Cameron with thousands tweeting with the hashtag #resigncameron. While the former mayor of London Ken Livingstone said Cameron should face a jail sentence for his involvement in the scheme and vacate his post in an astonishing attack on the conservative politician.

As teleSUR reported on Friday whistleblower Edward Snowden also called on Cameron to quit.

Cameron’s admission comes five days after the Panama Papers leak which detailed how the Panama-based law firm Mossack Fonseca helped thousands of world leaders, wealthy elites, and celebrities hide assets in shell companies and offshore tax havens.

The documents showed that the prime minister’s father Ian Cameron, who passed away in 2010, opened a fund under the name of Blairmore Holdings which the leader sold for close to US$42,000 before he became the leader of the U.K.

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