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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

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