Paradise Papers leak reveals secrets of the world elite's hidden wealth

The project has been called the Paradise Papers. It reveals... Millions of pounds from the Queen's private estate has been invested in a Cayman Islands fund -- and some of her money went to a retailer accused of exploiting poor families and vulnerable people.

Extensive offshore dealings by Donald Trump's cabinet members, advisers and donors, including substantial payments from a firm co-owned by Vladimir Putin's son-in-law to the shipping group of the US commerce secretary, Wilbur Ross.

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"Tax havens are one of the key engines of the rise in global inequality," he said. "As inequality rises, offshore tax evasion is becoming an elite sport."

At the centre of the leak is Appleby, a law firm with outposts in Bermuda, the Cayman Islands, the British Virgin Islands, the Isle of Man, Jersey and Guernsey. In contrast to Mossack Fonseca, the discredited firm at the centre of last year's Panama Papers investigation, Appleby prides itself on being a leading member of the "magic circle" of top-ranking offshore service providers.

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Appleby says it has investigated all the allegations, and found "there is no evidence of any wrongdoing, either on the part of ourselves or our clients", adding: "We are a law firm which advises clients on legitimate and lawful ways to conduct their business. We do not tolerate illegal behaviour."