Friday, February 29, 2008

More Properties Frozen in NBE Gold Scandal

Addis Fortune: "The First Criminal Bench of the Federal High Court last week froze properties belonging to WOW International Garment Factory in the latest chapter of the gold scandal saga at the National Bank of Ethiopia (NBE). The Factory, which went operational a year ago, is among the holdings claimed to have been registered with Abdurshikur Mohammed Sofam, a businessman suspected of involvement in the scam.

This is not the first time the Court has frozen properties of businessmen in relation to NBE’s unflattering disgrace. On January 3, 2008, it had frozen properties of six individuals and one company, which were accused of being accomplices to the businessmen that are suspected of swindling 158 million Br from the central bank supplying gold plated steel."