Monday, September 21, 2009

Tanzanian Government Thwarts Shipping Scam

Four Officials Suspended Pending Investigation
Shipping News Feature

DAR ES SALAAM, TANZANIA – Four senior government officials have apparently been sent home on compulsory leave following reports that false claims were made regarding $9 million which the liquidated National Agencies Shipping Company (Nasaco) were said to owe the Mediterranean Shipping Company.

It seems that staff at the official body responsible for investigating the defunct company’s affairs, the Consolidated Holding Corporation, issued a report to the Government that meant the money was owed by Tanzania on behalf of the parastatal for debts incurred. Further examinations of Nasaco’s affairs revealed however that the matter had been settled a year previously after a Court case.

The case is unusual as it seems to be the first time such an affair has been discovered before the perpetrators could abscond with the money. A recent fraud by an international syndicate in cahoots with locally set up businesses and still under investigation, was reported recently to have successfully embezzled up to $80 million from the Tanzanian Revenue Authority and four years ago there was corruption involved in the External Payments Arrears Accounts in which $130 million was paid to local firms under suspicious circumstances.