SEASON OF MONEY LAUNDERING : US$5.7 SEIZED IN SOUTH AFRICA AGAIN

South African authorities have seized US$5.7 million arms money from Nigeria, just three weeks after the $9.3 million cash transported by two Nigerians and an Israeli for arms purchase, South Africa-based City Express reported Monday.

The South Africa’s Asset Forfeiture Unit of the National Prosecuting Authority seized the $5.7 million (about N952 million) for allegedly being the proceeds of illegal transactions, just as the first one!
Under South African laws, a person entering or leaving the country is expected to carry cash not exceeding US$2,300, or the equivalent in foreign currency notes.

According to the newspaper, the documents in its possession show that the first consignment was personally signed off by the National Security Adviser, Sambo Dasuki, who issued the end-user certificate for the transaction.

An entire “shopping list” was supplied with the certificate, which included everything from helicopters to unmanned aircraft, rockets and ammunition, it said.
The latest transaction, according to the paper, was between Cerberus Risk Solutions, an arms broker in Cape Town, and Societe D’Equipments Internationaux, said to be a Nigerian company based in Abuja.

The paper said the deal fell apart after Cerberus which had earlier received from Nigeria R60 million (N1.02 billion) in its account at Standard Bank, tried to repay the money as it it could not resolve its registration formalities with the South African authorities.

“Cerberus was previously registered as a broker with the National Conventional Arms Control Committee (NCACC), but the registration expired in May this year,” City Press said.
“The marketing and contracting permits also expired at the same time. The company has since applied for re-registration, but the application lay in the NCACC’s mailbox for more than two months.

“Sources told Rapport that Cerberus apparently tried to pay the money back to the Nigerian company, after which the bank became suspicious,” the paper reported.
The paper added that while the NPA’s Asset Forfeiture Unit subsequently obtained a court order in the South Gauteng High Court to seize the money, the NPA spokesperson Nathi Mncube, said there were no indications the two transactions were related.

“However, both are now the subject of a criminal investigation and all possible information and connections are being investigated,” Mr. Mncube was quoted as saying.

Culled:vanguardngr