They loot their countries, swim in a sea of wealth and stash funds away from their empoverished homelands, mostly in Western foreign lands, while their people are starving or dying from easily preventable diseases, and their killing squads are brutally murdering those who dare to speak up against corruption, embezzlement and tyranny.
"They" are tyrants and corrupt foreign leaders and their relatives and confidents. They come from all over the World. Africa counts many. After siphoning the economies of their countries, they use the loot to buy mansions, private jets, yachts, rare paintings and artworks, luxury apartments, jewelry, million dollar cars, and other expensive items in the West or hide the money through shell companies.
Some of them were cited in the Panama Papers (see our article: Panama Papers Revelations: US Department of Justice Investigating Corruption and Blood Money). Now, most have been covered in what is known as Paradise Papers (see here).
While activities of stashing money in fiscal paradises may not be illegal in several instances, some African dictators hide behind a legal framework with the main purpose of money laundering. Also, even if the process may be legal, it may mean "that we’re not investing as much as we should in schools, in making college more affordable, in putting people back to work rebuilding our roads, our bridges, our infrastructure, creating more opportunities for our children, ” as former US President Obama put it; it may be a matter of life or death in Africa.
For example, one case highlighted by the Paradise Papers is of two closest confidants of Rwandan President General Paul Kagame: Brig. Gen. Emmanuel Ndahiro and businessman Hatari Sekoko, who were also cited in the Panama Papers. According to Paradise Papers:
After Panama Papers, Paradise Papers have brought into the open what some African leaders hide behind a smokescreen of public relations.
