Turnbull named in Panama papers

Prime Minister Malcolm Turnbull is named in the Panama papers as a former director of a company created and administrated by embattled law firm Mossack Fonseca.

A spokesman for Mr Turnbull told the Australian Financial Review that Mr Turnbull was not aware the company had been administered by Mossack Fonseca as the registered agent in Road Town, Tortola.

There is no suggestion that he had acted improperly.

The Panama papers are leaked records from Mossack Fonseca which provide a rare insight into the legal practice used to move money to decrease tax burdens.

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