Word: guinea
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...Hope is becoming more common across Africa. Armed conflicts are on the decline, democracy is spreading, and economic growth is healthy. But rebirths can be fragile. And after a few years of optimism in West Africa, instability has suddenly returned. The past two years have seen coups in Guinea and Mauritania and the tit-for-tat assassinations of the President and army chief in Guinea-Bissau. More recently, the regional superpower, Nigeria, endured three months of political uncertainty when President Umaru Musa Yar'Adua underwent medical treatment in Saudi Arabia but refused to hand over power to his deputy...
...report says that Teodoro Nguema Obiang Mangue, the son of Equatorial Guinea's president, relied on American lawyers, bankers and real estate agents to bring a total of $110 million in suspected dirty money into the U.S. via a complex system of shell accounts. The report also described how Omar Bongo, who ruled Gabon for nearly 42 years until his death last June, transferred $18 million into a U.S. account with the help of an American lobbyist. Similarly, the ex-wife of former Nigerian Vice President Atiku Abubakar is alleged to have helped shift $40 million into U.S. banks...
...vast majority of tainted money transfers is the self-enrichment of corrupt officials who've pilfered public funds, not terrorism. And that's clear outside the U.S., as well. In France, Transparency International has brought a case against three African leaders - Congo's Denis Sassou Nguesso, Equatorial Guinea's Obiang and Bongo's estate in Gabon - claiming they allegedly used public funds to purchase around $200 million in French properties for themselves. A group of Cameroonian nationals based in France has also lodged a lawsuit in Paris accusing Cameroon President Paul Biya of buying French homes worth hundreds of millions...
...inquiry into money transfers from top African officials to the U.S. via loopholes in a section of the Patriot Act designed to crack down on illegal terrorism financing. The 330-page report scrutinized moves by top political, economic and business leaders from the notoriously corrupt nations of Angola, Equatorial Guinea, Gabon and Nigeria to determine if they either violated or sought to side-step laws prohibiting money laundering. The report not only found evidence that several powerful officials (known as "politically exposed persons," or PEPs) exploited legal loopholes in moving suspicious funds to the U.S.; it also discovered that American...
Jean-Marie Doré was sworn in as Guinea's interim Prime Minister Jan. 26, a crucial step toward ending the country's military rule. A critic of the staunch regime, Doré has pledged "free, transparent and credible elections" within the year. An assassination attempt and subsequent exile forced Guinea's unpopular strongman, Moussa Dadis Camara, to allow a civilian interim leader. Some fear he continues to meddle from his base in Burkina Faso...