The Case of Seychelles’ Missing Millions


Six of Seychelles’ most prominent citizens including the former First Lady are facing charges in a corruption scandal involving $50 million of missing foreign aid. The money was a gift to the country 20 years ago from the United Arab Emirates, intended to help the struggling islands overcome a foreign exchange shortage and pay for basics such as rice, flour and cooking oil. According to the charge sheet at a Supreme Court in Seychelles, it was siphoned off by a close ally of former President Albert René, laundered with help from others through a murky privatisation of undervalued public assets, and dispersed to bank accounts around the globe. The six accused have not officially commented on the charges.

SOURCE: CHANNEL AFRICA

ADVERTISEMENT



Source link : https://www.africa.com/the-case-of-seychelles-missing-millions/

Author : Susan Gitau

Publish date : 2022-01-13 08:34:07

Tags:
share on: