Featured Democratic Republic Of Congo

Billionaire’s Letters to Congo’s Kabila Were Sought by U.K. Fraud Watchdog

U.K. fraud prosecutors sought an Israeli billionaire’s correspondence with the former President of Democratic Republic of Congo Joseph Kabila as part of one of their largest bribery investigations, a lawyer for the Serious Fraud Office said at a London trial. SFO attorney Jonathan Hall described the request at the… Read More

Congo prosecutors probe Israeli billionaire’s loan to state mining company

Congolese prosecutors are investigating a 200-million-euro ($222 million) line of credit issued to state mining company Gecamines by a company owned by Israeli billionaire Dan Gertler, who is under U.S. sanctions, Gecamines said on Monday. Two sources at Democratic Republic of Congo’s prosecutor’s office and two at the presidency, speaking… Read More

Trump unveils slew of sanctions over human rights abuses overseas

The Trump administration is imposing sanctions on at least 20 more people accused of human rights abuses, targeting government officials, businessmen and others in countries from Myanmar to Pakistan — but still avoiding penalizing some world leaders deemed critical partners. The new sanctions, announced Tuesday, are the latest in a… Read More
6th December 2019
Glencore Plc is being investigated for bribery by U.K. authorities, deepening the legal troubles that threaten the world’s biggest commodities trader. The shares fell as much as 8.6% to a three-year low. The move by the Serious Fraud Office adds to ongoing corruption probes that Glencore is facing in the… Read More
25th October 2019
Sanctions programs levied on some Sub-Saharan African countries could be made more effective by targeting specific networks rather than comprehensive sanctions against an entire country, a new report says. The report, published by policy advocacy group The Sentry on Thursday, evaluates the effectiveness of sanctions programs currently or previously… Read More
7th October 2019
Judging by the fleet of supercars parked in the grounds of Geneva’s Bonmont Golf and Country Club last Sunday, Teodorin Obiang was not overly fussed by the size of his carbon footprint. There were 25 in total, representatives of every luxury model conceivable, from Aston Martin to Bugatti and Ferrari,… Read More
3rd October 2019
Didier Reynders, Belgium’s pick for EU justice commissioner, denied on Wednesday corruption allegations against him and said he would continue to seek the post because he had not been charged. At a confirmation hearing, Belgian Foreign Minister Reynders told the European Parliament that money-laundering allegations made by a former Belgian… Read More
16th September 2019
Belgian police are investigating allegations of corruption and money-laundering against Didier Reynders, the country’s foreign minister and the nominee to be the EU’s next justice commissioner. Reynders has denied the accusations which, according to De Tijd newspaper, relate to the construction of the Belgian embassy building in Kinshasa, the… Read More
10th September 2019
Efforts by the Bank of Central African States (BEAC) to tackle money laundering and restock woefully thin foreign exchange reserves are causing dire currency shortages and delays to transactions across the six-nation currency union, businesses say. New BEAC rules introduced in June are aimed at bringing order to a monetary… Read More
14th August 2019
Kazakh mining company Eurasian Natural Resources Corp. asked a British court to stall the U.K.’s pursuit of corruption charges following a six-year bribery investigation. ENRC, once listed on the FTSE 100 Index, asked London’s High Court in a filing this month to force the Serious Fraud Office to withhold… Read More
5th July 2019
Lenders in the DR Congo will move to tackle money laundering at the request of the United States, which has expressed support for new president Felix Tshisekedi, the mineral-rich country’s banking association said. The US Treasury and State Department had asked Congolese banks to put measures in place against sanctions-busting,… Read More
26th April 2019
Glencore Plc said on Thursday that the U.S Commodity Futures Trading Commission (CFTC) is investigating whether the miner and its units may have violated certain regulations through “corrupt practices”. The company said the investigations are at an early stage and have a similar scope in terms of subject matter as… Read More
22nd April 2019
An appeals court has overturned a conviction of exiled Congolese opposition leader Moise Katumbi for real estate fraud, ruling that the trial court had been pressured by former President Joseph Kabila’s government, Katumbi’s lawyer said on Friday. Katumbi, the former governor of Democratic Republic of Congo’s copper-mining Katanga region, was… Read More