September 30, 2022

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France adopts a mechanism to restructure “badly earned profits” by foreign leaders – Agencies Africa

The French National Assembly unanimously approved on Tuesday a mechanism to recover to the public the assets seized by French justice in the “bad stuff” files of foreign leaders.

The project is particularly concerned with the reform of French development assistance, increased resources and the focus on eighteen African countries and Haiti. It will be submitted to the Senate for approval on July 21.

France provides that “proceeds of property confiscated from persons convicted of money laundering, concealment, etc.” should be returned as “as closely as possible to the people of the foreign state concerned.”

Paris will set a specific budget line, which, in addition to resale of goods, is dedicated to funding programs in various regions (health, education, gender equality, etc.) in question.

This is good news for voluntary charities that have been fighting for years against “bad profits” by their relatives, including foreign leaders or Africans. Current or former officials of some countries (Angola, Burkina Faso, Congo-Pressa, Gabon, Guinea, Equatorial Guinea) are already the target of complaints. Some NGOs condemned the complacency of Western countries where these officials embezzled wealth.

The test so far is that of Theodore Obi-Wan, the son of the president of Equatorial Guinea and the country’s vice president. On February 10, 2020, he was sentenced to three years in prison and fined மில்லியன் 30 million for embezzling significant heritage in France. Judgment is expected from the court on July 28.

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