Ahmed Kanté, a prominent figure in Guinea's mining sector, is facing fresh allegations of financial impropriety. The Court of Repression of Economic and Financial Infractions (Crief) has ordered a preliminary investigation into Kanté, who is accused of tax evasion, money laundering, corruption, and international financial manipulation. These charges stem from a complaint lodged on October 5, which suggests that Kanté, through his company AGB2A-GIC, may have engaged in illicit financial activities.
The investigation centers on Kanté's alleged partnership with the Cypriot football club Doxa Katokopias FC, of which he is reportedly the main sponsor. Authorities are scrutinizing the financial transactions related to this partnership, seeking to verify the legitimacy of payments, track the movement of funds, and determine their final destination. The probe also aims to uncover any potential price transfer manipulations, which may have allowed Kanté to underprice bauxite extracted in Guinea and shift profits abroad, evading local taxes.
According to sources, the complaint against Kanté points to possible artificial underpricing of bauxite sold to intermediary entities, significantly below the global market rates. This alleged scheme is believed to have enabled the transfer of substantial profits outside Guinea's fiscal system, before any taxation could be applied. The Crief has instructed judicial police officers to investigate the existence of any shell companies, hidden beneficiaries, or concealed capital links between AGB2A-GIC and foreign entities.
The development comes as Kanté is already facing trial in another case, accused of "abuse of trust." The Crief has scheduled a hearing for October 19, in which Kanté and three co-defendants are set to appear. They are charged with various offenses, including embezzlement of public funds, illicit interest-taking, money laundering, and illicit enrichment. This case involves the Lorcy family, represented by Fatoumata Dramé, as the civil party.
The Guinean authorities have been cracking down on financial crimes, with the Crief playing a pivotal role in investigating and prosecuting high-profile cases. Kanté's case has garnered significant attention, given his prominence in the country's mining sector. The investigation into his activities reflects the government's efforts to enhance transparency and accountability in the industry.
The probe into Kanté's activities is ongoing, with the Ordef tasked with unraveling the complexities of the financial transactions under scrutiny. The authorities are working to establish a clear picture of the funds involved, their movement, and the parties involved. This process is expected to shed more light on the allegations against Kanté and potentially lead to further actions.
As the investigation continues, Kanté's reputation and business interests hang in the balance. The case has significant implications for Guinea's mining sector, where concerns about transparency and corruption have long been raised. The outcome of this investigation will be closely watched by stakeholders, both domestically and internationally.
Key points
- * Ahmed Kanté faces new charges of tax evasion, money laundering, and corruption amid an ongoing Crief investigation. * The probe centers on alleged financial improprieties related to his partnership with a Cypriot football club and potential price transfer manipulations in the bauxite trade. * Kanté is also set to appear in another trial on October 19, facing charges of embezzlement and illicit enrichment.
