Tuesday, October 27, 2020

South Africa: I’m Not Hiding Gaddafi’s ‘Missing Millions’ – Former president, Zuma

-

Former South Africa President Jacob Zuma has denied claims that he is hiding $30 million (about Sh3 billion) which belonged to former Libyan leader Muammar Gaddafi in his bunker at the sprawling Nkandla homestead.

In his response via social media, Zuma said it was impossible to hide such a huge amount of money and then struggle to pay his legal fees to an extent of considering to sell off his properties.

“Where is this money because His Majesty knows nothing about it?” he posed.

Sigh! I owe millions in legal fees… I’ve asked you to assist with that one title deed in order for me to sell that house. I now hear that I have been keeping money belonging to my late brother Gaddafi. Where’s this money because His Majesty knows nothing about it?

- Advertisement -

Sections of the South African media has referred to this loot as ‘Gaddafi’s missing millions’ and that it has had a lot of different hiding places over the years.

Reports further suggest that Gaddafi gave Zuma the money for ‘safekeeping’ during the final years of his presidency.

- Advertisement -
- Advertisement -

MUST READ

Julius Baer to deny two former CEOs their bonuses over money laundering scandal

Julius Baer will withhold millions of francs in bonuses from its former chief executives Boris Collardi and Bernhard Hodler, as a result of a...

Goldman Sachs executives to cover part payments of $3 billion fines in 1MDB scandal

Nine current or former Goldman Sachs executives, including CEO David Solomon, will have to pay back hundreds of millions of dollars in compensation over...

Goldman Sachs agrees $3 billion settlement with US DoJ over 1MDB corruption scandal

Goldman Sachs has agreed to pay nearly $3bn (£2.3bn) in the US to end a probe of its role in Malaysia's 1MDB corruption scandal. The...

Hong Kong fines Goldman Sachs $350 million over 1MDB scandal

Goldman Sachs ignored multiple red flags over the multibillion-dollar fundraisings it arranged for state fund 1Malaysia Development Berhad, Hong Kong’s financial regulator said on...

Texas attorney general Ken Paxton fires top aide who accused him of bribery

Lacey Mase, one of the top aides who accused Texas Attorney General Ken Paxton of crimes including bribery and abuse of office, has been fired, she told The...

Subscribe For More

Get our daily notification on the latest financial crimes news around the World

Advertisement
Advertisement

Latest News

This Week

Swiss court upholds money-laundering conviction of ex-Ukrainian lawmaker Martynenko

A Swiss court has upheld the conviction of former Ukrainian lawmaker Mykola Martynenko for laundering via Swiss banks millions of dollars worth of kickbacks...

Texas AG Ken Paxton fires second whistleblower who accused him of bribery

A second whistleblower has been fired from the Texas attorney general’s office after reporting his boss, Texas Attorney General Ken Paxton, to law enforcement for...

Goldman Sachs agrees $3 billion settlement with US DoJ over 1MDB corruption scandal

Goldman Sachs has agreed to pay nearly $3bn (£2.3bn) in the US to end a probe of its role in Malaysia's 1MDB corruption scandal. The...

Operators of fake theology school accused of stealing $12 million in student aid

Six people from three states are charged with defrauding $12 million from federal student aid programs by allegedly enrolling students into a theology school...
Advertisement

Adblock Detected!

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by whitelisting our website.

Enable Notifications    Ok No thanks