Thursday, October 19, 2017

Corruption in South Africa

Former cabinet minister, Lord Peter Hain, has alleged in a letter to Chancellor Philip Hammond UK banks may have been used to launder money stolen from South Africa.
The money laundering accusation rests on alleged ties between the country's President Jacob Zuma and a wealthy business family, the Guptas. Hain alleged the issue was "a result of the corruption and cronyism resided over by President Zuma and close allies the Guptas".
Lord Hain urged UK authorities "to track that stolen money down and make sure that British financial institutions help return it to South African taxpayers".
The Guptas have been accused in the past of wielding influence in South African politics under President Jacob Zuma's administration.

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