Tanzanian tycoons charged for economic sabotage

DAR ES SALAAM. – Two Tanzanian business tycoons were on Monday charged with various counts, including economic sabotage.http://www.herald.co.zw/wp-includes/js/tinymce/plugins/wordpress/img/trans.gifHarbinder Singh Seth of Pan African Power Solutions (PAP) Tanzania and VIP Engineering’s James Rugemalila, who jointly own Independent Power Tanzania Limited (IPTL), a power generation company, appeared in a Dar es Salaam court following completion of investigations by the Prevention and Combating of Corruption Bureau (PCCB).

Valentino Mlowoka, the PCCB Director General, told a news conference that the duo was linked to the $122 million escrow account scandal.

“For a long time now, people have been curious to know about progress made on our investigations on the escrow account and IPTL scandals,” said the east African nation’s anti-graft czar.

”The duo was charged in a normal court before being transferred to a special court on economic sabotage,” Mlowoka added.

In 2014, the two allegedly siphoned off a whopping $122 million from the Tegeta escrow account at the bank of Tanzania jointly opened by Tanzania Electric Supply Company (TANESCO) and IPTL pending a tussle over capacity charges between the two in local and international courts.

Part of the money was disbursed to politicians, government executives, judges and religious leaders.

The scandal prompted the resignation of former Attorney General, Fredrick Werema and the then Energy and Minerals Minister, Sospeter Muhongo.

Former President Jakaya Kikwete fired the then Lands, Housing and Human Settlement Minister Anna Tibaijuka after she was implicated in the scam. – Xinhua.

June 2017
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