British Officials Report Assets Frozen of Zimbabwe's Re-elected President

Knight Ridder | 3/31/02 | Benjamin Wootliff and Brian Johnson-Thomas

[kattracks]

Mar 31, 2002 (Sunday Business - Knight Ridder/Tribune Business News via COMTEX) -- Millions of dollars secretly deposited in the offshore financial haven of the Turks & Caicos by Zimbabwe's recently re-elected president, Robert Mugabe, have been frozen, according to British intelligence sources.

He has used accounts in the Caribbean islands to store funds from his Isle of Man-based Eagle Investments through which much of his wealth is concentrated. Last month the European Union and the US froze the assets of Mugabe and his associates and placed an arms embargo on Zimbabwe. But the Turks & Caicos are British territories and do not fall under EU jurisdiction.

In early March, foreign secretary Jack Straw wrote to the Turks & Caicos government requesting that it freeze Mugabe's assets, a Foreign Office spokesman confirmed.

Mugabe is thought to have transferred funds from the Eagle Investment Trust which has a stake in Zidco, Zimbabwe's biggest holding company; it controls many of Zimbabwe's largest companies, including First National Bank, Star Travel and Zidco Holdings.

Zidco is chaired by Emmerson Mnangagwa, speaker of the Zimbabwean parliament and former security minister.

The company's managing director Jayant Joshi has been responsible for the finances of Zanu PF, Mugabe's ruling party, since the 1970s.

-- By Benjamin Wootliff and Brian Johnson-Thomas

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http://www.sundaybusiness.co.uk UKpound preceding a numeral refers to the United Kingdom's pound sterling.

(c) 2002, Sunday Business, London. Distributed by Knight Ridder/Tribune Business

News.

[Robert_Paulson2]

Is this maroon a muslim too?

[happygrl]

This is SUPER NEWS !!!! Now the pain begins. Class action suit needs to be filed on behalf of the Zimbawean people, beginning with those who have lost lives and property.

[CdMGuy]

Judging by his first name, Robert, I would say not.

[grammymoon]

Don't be so sure. We do business in NYC and they are all changing their names.
Fahd became Frank, Al-Adiba is now Albert and we even got a Robert!

[Brian Allen]

Is this maroon a muslim too?

No.

Mudgabe is a Catholic Communist. [Go figger]

But he is in bed with Khaddaffi, who supplies him with walking around money and arms and a batalion of thuggees -- and who at last muster was just about dean of the islamanazi brigades.

[Cincinatus' Wife]

Millions stached by Mugabe while Zimbabweans starve. Yup, that sounds about right for a dictator.