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New UK sanctions against individuals implicated in global corruption

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Foreign Secretary Dominic Raab today announced new UK sanctions against five individuals involved in serious corruption in Equatorial Guinea, Zimbabwe, Venezuela and Iraq. The sanctions target severe cases of corruption that have deprived developing countries of vital resources. , a private jet and $275,000 gloves worn by Michael Jackson on the Bad Tour, another ruthless public food program in Venezuela.

Foreign Secretary Dominic Raab today announced additional sanctions against individuals under the UK’s global anti-corruption sanctions regime.

This second global anti-corruption sanctions targets corrupt individuals who fill their pockets with embezzlement and cause massive damage to the countries and communities they use with their greed.

The UK will impose asset freezes and travel bans on these individuals so that they will no longer be able to finance through UK banks or enter the UK.

New sanctions, announced today, target five individuals involved in serious corruption in Equatorial Guinea, Zimbabwe, Venezuela and Iraq. The individuals designated today are:

Teodoro Obiang Mangue, son of the vice president and current president of Equatorial Guinea, abused state funds into his personal bank accounts and contracted to finance a lavish lifestyle inconsistent with official salaries. was charged with corrupting and soliciting bribes. As Minister of Government. This includes a $100 million mansion in Paris and a $38 million private jet. Kudakwashe Regimond Tagwirei thanked his company, Sakunda Holdings, for profiting from the abuse of property when it paid off Zimbabwean Treasury bonds worth up to 10 times its official value. His actions accelerated deflation of the Zimbabwean currency, raising the price of necessities such as food for Zimbabwean citizens. Alex Nain Saab Morn and Alvaro Enrique Pulido Vargas took advantage of two Venezuelan public programs set up to provide affordable food and housing to poor Venezuelans. They profited from improperly won contracts, and the promised goods were delivered at very inflated prices. Their actions have caused even more suffering for the people of Venezuela, who are already suffering from poverty. As governor of Iraq’s Nineveh province, Nawfal Hammadi Al-Sultan has been implicated in severe corruption, abusing public funds for reconstruction efforts and supporting civilians, and improperly awarding contracts and other state-owned property. Al-Sultan is currently serving a combined five-year sentence in Iraq for corruption offenses, including wasting 5 billion Iraqi dinars (approximately $2.5 million) on fictitious public works.

Foreign Minister Dominic Raab said:

The actions we take today target individuals holding their own pockets at the expense of citizens. The UK is committed to combating the plague of corruption and holding those responsible for its effects accountable. Corruption drains the wealth of poor countries, locks people in poverty and pollutes the wells of democracy.

The move follows the UK’s first sanctions under the global anti-corruption sanctions regime in April against 22 individuals implicated in serious corruption cases in Russia, South Africa, South Sudan and Latin America.

More than 2% of global GDP is lost each year due to corruption. Today’s action demonstrates the UK’s continued commitment to combating corruption.

Since the UK foreign minister launched a global anti-corruption sanctions regime in April, the UK has now sanctioned 27 individuals around the world who have been involved in serious corruption.

background:

Financial restrictions also apply today to any legal entity owned or controlled by a designated person.

Additional Background for Today’s Designated Individual: Theodoro Ovian Mangue

In a country where a third of the population lacks even basic sanitation, according to UNICEF, surveys and media reports show that Ovian has spent more than $500 million since his appointment as Minister in 1998. This includes a $100 purchase. One million mansions in Paris and around the world, $38 million private jets, luxury yachts, dozens of luxury vehicles including Ferraris, Bentleys and Aston Martins, and, most notably, Jackson-made $275,000 crystal-clad gloves. Michael Jackson souvenir collection. He wore it on his bad tour.

Brother-in-law Regimond Tagwerey

Sakunda and Tagwirei, as CEOs and owners, have benefited significantly from the abuse of property at the expense of Zimbabwe’s broader macroeconomic stability.

Alex Nine Saabmon and Alvaro Enrique Pulido Vargas

Alex Nain Saab Morn and Alvaro Enrique Pulido Vargas have been involved in serious corruption in Venezuela by participating in two Venezuelan public programs, the Local Committee for Supply and Production (CLAP) and the Great Housing Scheme (GMV). In each case, the contract was improperly awarded for the benefit of public officials and/or others, including Saab and Pulido themselves. In the CLAP program, basic groceries were provided at very high prices. In the case of GMV, the Global Construction Fund delivered only some of the products it agreed to deliver and abused the rest.

Trumpet Hammadi Al Sultan

Nineveh province was devastated by the occupation of Daesh in 2017 and the struggle for province liberation. In particular, the incomplete reconstruction of Nineveh and Mosul continues to weaken the stability of the region and slows the recovery of vulnerable populations affected by the occupation of Daesh.

Sources

1/ https://Google.com/

2/ https://www.gov.uk/government/news/new-uk-sanctions-against-individuals-involved-in-corruption-around-the-world

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