Tag Archives: corruption in africa

Eritreans Who Stashed Millions in HSBC Identified

Identity of two Eritrean clients in the HSBC SwissLeaks have been revealed
Identity of two clients from Eritrea who opened a secret Swiss account in 1981 and 1987 amounting to $315 million has been revealed

By TesfaNews,

STOLEN computer files with more than 100,000 names, nationalities, account information and detailed notes between the Swiss arm of Europe’s biggest bank HSBC and its  clients have been revealed, and along with them, a lot of dirty laundry.

The disclosure, now dubbed “Swiss Leaks”, is the biggest such exposure in Swiss banking history. It started when a computer security specialist named Hervé Falciani stole a huge cache of data in 2007 and gave it to the French government. Continue reading Eritreans Who Stashed Millions in HSBC Identified

The Looting of Nigeria: BIG OIL’s $140 Billion A Year and Counting

Two recent audits of the oil industry show billions of dollars in irregularities despite years of government promises to clean it up. It is now a hot issue that may come to define Goodluck Jonathan's presidency

By Thomas C Mountain,

As western oil companies loot some $140 Billion a year of Nigeria’s black gold two thirds of the country’s 100 million people live on less than $2 a day.

Nigeria’s “official” oil production figures show about 3 million barrels a day being pumped from their oil fields into the holds of western tankers though for decades now informed observers have estimated up to one third of all Nigerian oil is actually “stolen”, secretly loaded onto oil tankers after bribes are paid to corrupt government officials. Continue reading The Looting of Nigeria: BIG OIL’s $140 Billion A Year and Counting