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Dubai and money laundering are there any connections – example 2 - The Fishrot Files

24/08/2020

In November 2019, Wikileaks [https://wikileaks.org/fishrot/] and investigative journalists published documents showing how the Icelandic fishing company, Samherji, allegedly paid up to US$10 million [https://stundin.is/grein/9920/]  in bribes to government officials in Namibia to secure lucrative mackerel fishing quotas in the Atlantic.

The bribes were reportedly paid to a shell company in Dubai, Tundavala Investments Limited, via two holding companies belonging to Samherji in Cyprus.

As in the dos Santos case, the suspicious payments were made under the guise of 'consultant fees'. Tundavala's only income was the deposits made by the Samherii holding companies.

Recently, the Namibian Finance Minister revealed that assets linked to the case include not only bank accounts, but Dubai real estate as well.

The Namibian Anti-Corruption Commission has announced that they are seeking to recover the value of 21 properties in the emirate linked to the six officials involved in the scandal.

Source - A recent report into attempts by the United Arab Emirates to combat money laundering and terrorist financing is damning, to say the least. - https://www.transparency.org/en/news/the-united-arab-emirates-a-key-piece-in-the-global-money-laundering-puzzle