Word: gabon
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...Nguema Obiang Mangue, the son of Equatorial Guinea's president, relied on American lawyers, bankers and real estate agents to bring a total of $110 million in suspected dirty money into the U.S. via a complex system of shell accounts. The report also described how Omar Bongo, who ruled Gabon for nearly 42 years until his death last June, transferred $18 million into a U.S. account with the help of an American lobbyist. Similarly, the ex-wife of former Nigerian Vice President Atiku Abubakar is alleged to have helped shift $40 million into U.S. banks via offshore corporate accounts. These...
...self-enrichment of corrupt officials who've pilfered public funds, not terrorism. And that's clear outside the U.S., as well. In France, Transparency International has brought a case against three African leaders - Congo's Denis Sassou Nguesso, Equatorial Guinea's Obiang and Bongo's estate in Gabon - claiming they allegedly used public funds to purchase around $200 million in French properties for themselves. A group of Cameroonian nationals based in France has also lodged a lawsuit in Paris accusing Cameroon President Paul Biya of buying French homes worth hundreds of millions of dollars with taxpayer funds. The three surviving...
...into money transfers from top African officials to the U.S. via loopholes in a section of the Patriot Act designed to crack down on illegal terrorism financing. The 330-page report scrutinized moves by top political, economic and business leaders from the notoriously corrupt nations of Angola, Equatorial Guinea, Gabon and Nigeria to determine if they either violated or sought to side-step laws prohibiting money laundering. The report not only found evidence that several powerful officials (known as "politically exposed persons," or PEPs) exploited legal loopholes in moving suspicious funds to the U.S.; it also discovered that American bankers...
...companies, establishing similar relationships with Baghdad could prove crucial, and highly profitable. As oil supplies dwindle in places like the North Sea and Gabon, companies are desperate to book new reserves - and Iraq, which unlike Kuwait or Saudi Arabia is incapable of producing its oil without foreign know-how and investment, is up for grabs. Unlike huge new finds off Mexico, Brazil and West Africa, many Iraqi fields were mapped years ago - some by the same companies now negotiating new contracts - and so will not require lengthy exploration before pumping can begin...
...United Nations Security Council has chosen its next five non-permanent members, to begin serving next January in the body charged with global security. What Bosnia and Herzegovina, Brazil, Gabon, Lebanon, and Nigeria will accomplish in their two-year terms remains to be seen, but already clear is the dire need for systemic reform in the structure of the Security Council...