Massive Assets Freeze in Ethiopia high-level Anti-corruption Crackdown

Massive Assets Freeze in Ethiopia high-level Anti-corruption Crackdown File Photo

A court in Ethiopia has ordered the freezing of assets belonging to individuals and entities listed in a recent anti-corruption crackdown.

The Addis Fortune portal reports that some 210 individuals had their properties frozen along with 15 companies all linked to the probe.

The portal quoted the Information Minister, Negeri Lencho, as saying: “This is part of the recent aggressive move against corruption.”

The Ethiopian government late last month put over 30 persons before a federal high court on charges of high-level corruption.

The 37 persons were arrested over their involvement in deals that allegedly led to the embezzlement of an estimated 1.1 billion birr – which translates to over $47.2 million.

The detained persons included senior government officials, business people and brokers. The court denied all of them bail and granted police prosecutors 14 days to collect additional evidence.

Tagged as:

Latest news, Ethiopia News, Trending

RELATED CATEGORYMore

3664 Views Comments

Louvres Hotel Group,Signed Its 3rd Hotel In Ethiopia

Louvres Hotel Group, number one hotel group in East Africa, signed its 3rd hotel in Ethiopia, pursuing the expansion of an ambitious network covering sub-Saharan

5566 Views Comments

Is Safaricom Entering the Ethiopian Market?

Safaricom has denied reports of the company entering into the Ethiopian market. The Kenyan telco had been said to be gearing up for its first venture

3714 Views Comments

Ethiopian Airlines Digitalized All Business Processes

Flying even more greener; Ethiopian Airlines Group, the largest airline in Africa, is pleased to announce that it has fully digitalized all its business processes