Co-founder of infrastructure fund allegedly under investigation for money laundering

Kola Aluko, a Nigerian energy mogul, is allegedly under investigation for money laundering in Nigeria. Among other things, Aluko is one of the founders of Made in Africa (MiAF), a foundation for infrastructure projects across Africa which, in 2013, joined the African Development to launch the Africa50 Fund on NASDAQ, Africa’s largest infrastructure investment vehicle. It seems [...]

Nigeria gets ex parte asset recovery order for $153,000,000 in proceeds of corruption from PEP parked in banks

The government of Nigeria will be able to recover $153 million in proceeds of corruption from Diezani Allison-Madueke, its former Minister of Petroleum, who was and remains a politically exposed person under anti-money laundering law. The funds were alleged to have been stolen from the Nigerian National Oil Company when it was under her control as [...]

Trial of PEP from Equatorial Guinea for money laundering in France; are Canada’s PEPs from Gabon next?

Equatorial Guinea trial Teodorin Obiang, the son of the President of Equatorial Guinea, is being prosecuted in France for allegedly laundering the proceeds of corruption in France. Mr. Obiang is also the Vice-President of Equatorial Guinea and is a politically exposed person. His trial is scheduled for June 2017. He is accused of bringing $105 [...]