UBS accused of role in embezzling Congolese millions
Former DRC president Joseph Kabila is thought to have embezzled his country out of $138 million.
Copyright 2019 The Associated Press. All Rights Reserved.
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.
Swiss climate activists block vehicles near Gotthard tunnel
This content was published on
Around ten climate activists briefly blocked the A2 motorway near the northern entrance of the Gotthard tunnel on Thursday.
Watches belonging to Michael Schumacher up for auction
This content was published on
Schumacher's family is auctioning off eight rare watches from his collection in Geneva. The Christie's auction will take place on Monday.
Joya Marleen and Baschi named best solo acts at Swiss Music Awards
This content was published on
St. Gallen singer Joya Marleen and Baschi from Basel were named artists of the year at the Swiss Music Awards 2024 on Wednesday night.
Swiss authorities announce cost-cutting in asylum sector
This content was published on
The government notably wants to improve integration into the labour force, particularly for people with protection status S.
Various leaders confirm participation at Ukraine peace conference
This content was published on
The presidents of Poland, Finland, and Latvia and the prime ministers of Spain and Belgium will be at the Swiss-hosted talks in mid-June.
This content was published on
In the winter season up to April 2024, railway and cable car operators ferried 3% more visitors compared to the previous winter, and 5% more than the five-year average.
Rhine flooding: Swiss to invest CHF1 billion with Austria
This content was published on
As part of an international agreement with Austria, the Swiss government wants to pump CHF1 billion ($1.1 billion) into flood protection measures along the Rhine over the next three decades.
Swiss government proposes CHF10 million UNRWA donation
This content was published on
After months of debate, Switzerland plans to give CHF10 million ($11 million) to the UN agency this year, rather than the CHF20 million initially foreseen.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Dictators’ funds in Switzerland – the biggest scandals
This content was published on
From Marcos to Yanukovych via Mubarak, a rogues’ gallery of former leaders who have stashed their stolen cash in Switzerland.
This content was published on
The Congolese Deputy Prime Minister pressed Swiss delegates at COP26 for a more equal trade partnership in raw materials.
Swiss businessman accused of funding rebels in Congo
This content was published on
Chris Huber is believed to be working closely with the Rwandan army through his business ventures in exporting a mineral called colombo tantalite, or coltan, widely used in electronic devices such as mobile phones. A new report by over 30 non-governmental organisations (NGOs) states that natural resources, such as coltan, are being smuggled from Congo…
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.