UBS accused of role in embezzling Congolese millions
A group of NGOs has issued a criminal complaint against Swiss bank UBS for allegedly helping the former Democratic Republic of the Congo (DRC) president launder money out of the country.
Swiss-based Public Eye, the Platform to Protect Whistleblowers in Africa and the UNIS association said on Friday that they had filed the complaint with Swiss federal prosecutors.
The complaint alleges that UBS helped former DRC president Joseph Kabila embezzle $19 million ($18.5 million) from his own country in 2012 and 2013.
The funds were allegedly laundered via UBS accounts in Zurich and Geneva controlled by a confidant of Kabila, the Belgian businessman Philippe de Moerloose.
Public Eye says it was among five NGOs and a number of international journalists to have seen “millions of bank documentsExternal link” that were part of a large batch of leaked data.
The complainants allege “possible acts of money laundering and a possible failure to exercise due diligence regarding financial transactions within the largest Swiss bank to prevent money laundering.”
The Swiss Office for the Attorney General (OAG) confirmed that it had received the complaint, which “will now be examined in accordance with the usual procedure.” The OAG added that an investigation would only be opened if sufficient suspicion of a criminal offence could be established.
UBS declined to comment on the allegations.
Anti-corruption campaigners suspect Kabila of illegally siphoning off some $138 million from DRC state funds, using different banks in various countries between 2013 and 2018.
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