Politicians and celebs deny abuse of offshore accounts amid Panama papers leak

The president of Ukraine has become the latest prominent politician to deny wrongdoing after his name was linked to secretive offshore accounts arranged by a Panama law firm.

The revelations have raised suspicion that such offshore entities were set up to avoid taxes, but Petro Poroshenko denied that was the purpose in his case. Rather, he said, it was necessary to create an offshore holding company to put his sweet business in a blind trust when he became president of Ukraine in 2014.