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from SAVIOUS KWINIKa in Johannesburg, SA
JOHANNESBURG – THE United Kingdom (UK) has slapped sanctions against five individuals allegedly involved in serious corruption in developing countries.

Affected individuals Global Anti-Corruption sanctions regime are from Equatorial Guinea, Iraq, Venezuela and Zimbabwe.

Zimbabwean Kudakwashe Tagwirei is accused of profiting from misappropriation of property when his company, Sakunda Holdings, redeemed Zimbabwe Treasury Bills at up to ten times their official value.

His actions allegedly accelerated the devaluation of Zimbabwe’s currency, increasing the price of essentials, such as food, for Zimbabwean citizens.

Teodoro Obiang Mangue, Vice President of Equatorial Guinea, and son of the current President, is sanctioned for his alleged involvement in the misappropriation of state funds.

This included the alleged purchase of a U$100 million mansion in Paris and a $38 million private jet.

Alex Nain Saab Morán and Alvaro Enrique Pulido Vargas are accused of exploiting two of Venezuela’s public programmes which were set up to supply poor Venezuelans with affordable foodstuffs and housing.

Nawfal Hammadi Al-Sultan has allegedly been involved in serious corruption in his role as Governor of Nineveh province, Iraq.

“The action we have taken today targets individuals who have lined their own pockets at the expense of their citizens,” said Foreign Secretary, Dominic Raab.

“Corruption drains the wealth of poorer nations, keeps their people trapped in poverty and poisons the well of democracy.”

The UK has now sanctioned 27 individuals around the world since the Foreign Secretary launched the Global Anti-Corruption sanctions regime in April.

– CAJ News