Sunday, February 7, 2016
Are "economic crimes" being committed at the Jammeh Foundation for Peace?
But is this what has been happening since the establishment of the Jammeh Foundation for Peace. Based on leaked information obtained from faturadio.com website detailing both the dollar-denominated and local currency bank accounts of the Foundation at the Trust Bank (Gambia) Ltd, a different and disturbing picture is painted from what is expected of a Foundation run by someone who would like to seen as President of The Gambia.
The JFP describes its objective as "genuinely investing in the development of humanity in general and Gambians in particular by contributing...in the sector of education, health, agriculture and women and youth enterprise development." While these are laudable activities, the transactional movements of the income and expenditures (or deposits and transfers) of the ledger seem to tell a different story.
To shed light on what's going on at the Foundation, a review of its account's history covering a span of approximately three years will facilitate the task. Leaked information reveal that the JFP operate two accounts - one denominated in US dollars and another in the local currency. Yaya Jammeh personally operates the account as Founder and The Chief Patron of the Foundation that bears his name.
In subsequent blog posts, we will delve into the details of the accounts with a view to answering questions lingering in the minds of the public with regards to the huge funds deposited and withdrawn from the accounts by businesses such as Gampetroleum and Selectra AG - both privately-owned companies.
Gampetroleum is involve in the importation and retail of petroleum products while Selectra AG is an Italian-registered, owned by a Swiss national of Romanian extraction who somehow became Gambia's Ambassador to the United Arab Emirates in 2011, according to Breitbart.com, an American website. Based on The Daily Observer's published letter, the same gentleman is now the Ambassador-Designate of The Gambia to the French Principality of Monaco