Legendary electronic music trio Sweden Mafia at Home named the Pandora Papers, an explosive leak of overseas financial data.
Published by the International Consortium of Investigative Journalists, the cache of 11.9 million released documents has affected many politicians, billionaires, celebrities, and business leaders. They exposed numerous sensitive financial deals, secret bank accounts, and controversial tax infrastructures, leading to a global tour of the world’s elites to mitigate the fallout.
According to a report on Swedish public television broadcast The SVT, Sweden House Mafia created a company in the British Virgin Islands to manage ownership of the various recordings released by the group, as well as its name and logo. The entity reportedly owns the rights to “Don’t You Worry Child” and “Save the World,” two of the band’s popular songs.
Sweden House Mafia hired a wealth advisor to establish the entity, SHM Holdings Ltd., in 2009, The SVT reports. The consultant is said to have created it for band members, Axwell, Sebastian Ingrosso, and Steve Angello, through a separate company called Marsham LLC, which is from Nevis, a small island in the Caribbean Sea.
It is important to note that the Sweden House Mafia is not currently under investigation for tax evasion or financial misconduct, and their involvement in the Pandora Papers debacle should not be imposed on its members. A spokesperson for the band confirmed the presence of the overseas entity in an email to The SVT, but stated that the arrangement-including with the wealth advisor-ceased in 2013 even though it was reported to be operating in 2017.
“(There are) questions as to whether construction can be thought of as a means, so to speak, of concealing assets, which could damage the SHM brand,” the spokesperson said, adding that the entity’s purpose “is not to avoid taxes. “
The Sweden House Mafia is in the midst of a vigorous comeback campaign, recently announced their first appearance at the music festival in 2021 and a high-profile collaboration with The Weeknd. Prior to the July 2021 release of “It heals, “the trio found no new music from the 2012 seminal Until now album. The group later split after the expansive end in 2013 A Final Tour before coming together for a major performance at the 2018 edition of the Ultra Music Festival in Miami.