A Billion Dollars
$1 Billion That Banks Sent to South Sudan for Food and Medicine Vanished, Probe Finds
Almost $1 billion supplied to South Sudan through a credit line from Qatar National Bank and Kenya’s Stanbic Holdings Plc to help the country buy food, fuel and medicine went missing, according to an investigation by The Sentry.
The money, supplied between 2012 and 2015, was diverted to businesses with links to prominent South Sudanese officials, including members of President Salva Kiir’s family, the then-governor of the central bank and military officials, the US-based nonprofit that investigates allegations of corruption said in a report published on Wednesday.
The goods mostly weren’t delivered and after failing to repay the borrowed money, the South Sudanese government entered international arbitration talks with QNB before later reaching a debt-restructuring agreement with the lender, The Sentry said.
In total, the letters-of-credit program amounted to $993 million, with $793 million of that coming from QNB and the rest from Stanbic, The Sentry said. Hundreds of millions of dollars were transferred into accounts in Kenya and Uganda linked to the same individuals who were allocated the letters of credit, or to their close associates, often with no proof of delivery, it said.
This is how money gets laundered internationally. The South Sudanese officials certainly make off with some of it, but everyone with a semblance of common sense knows that the bulk of the money has to move on past them.
The ruling class in Sudan isn’t living like billionaires; we can see that. Millionaires, possibly. But where is the rest of it, and why are so few international countries interested in digging deeper?
These reports always come from nonprofits, rarely from those whose money was “lost”. When the United States loses billions in other states, it’s barely in the news for five seconds. And even then, it’s solely there because of some nonprofit or other independent journo. It’s never the actual ruling class complaining about it.
This is how it’s done to launder money. They aren’t giving aid, they are looking for a way to “clean” a lot of those funds. What better way to do it than through supposed “aid”?
Makes you wonder how much of the Ukranian money is actually going to Ukraine. I’d wager at least some of it, because the U.S. does want to kill Russians. But there is no way some of that isn’t getting funneled straight back to our own elites and other worldwide centralizers.
I know most of you get this, but it’s still a needed lesson for those who haven’t dived into the topic yet. If you’ve never looked up “foreign aid money laundering scandals”, now would be a good time.
It’s all a charade. Always was.
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