Foreign aid pays for dictators property portfolios?

Posted: July 29, 2011 in General

Apparently British taxpayers are funding multi-million-pound Paris property portfolios of African dictators.

IlieNo wonder Downing Street David Cameron is increasing the £8.1billion that Britain taxpayers currently spend on foreign aid to £11.4billion in 2014, luxury properties in Paris must be extremely expensive..

It emerged yesterday that Denis Sassou Nguesso, president of the Republic of Congo, owns 16 of the most luxurious houses and flats in the French capital.

Nguesso is one of a number of African politicians said to have built vast overseas property empires using public funds – including the proceeds of European foreign aid – from their countries’ treasuries.

Ali Bongo, president of Gabon, owns at least 39 properties in Paris, while the portfolio of Teodoro Obiang Nguema Mbasogo, president of Equatorial Guinea, includes an entire six-storey period building on the prestigious Avenue Foch, alone worth £15m.

The details are contained in a report compiled by the anti-corruption groups Transparency International and Sherpa, and handed over to Paris prosecutors.

Nguema Mbasogo’s property is used by members of his family when they are on shopping trips in France, he prefers to stay in a £2,000-a-night suite at the Hôtel Plaza Athénée, off the Champs-Élysées.

French prosecutors are also investigating claims that deposed ‘Arab Spring’ dictators, including Zine al-Abidine Ben Ali of Tunisia and Hosni Mubarak of Egypt, have numerous homes in France.


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