A London estate agent who appeared on the BBC’s Homes Under The Hammer has been named in an investigation into alleged corruption by a former Nigerian oil minister known as ‘The Madam’.

Court documents filed in the US alleged King’s Cross estate agency Daniel Ford helped to buy millions of pounds worth of properties for Diezani Alison-Madueke in London.

Daniel Ford’s sole director is Adeyemi Edun, UK company records show.

The Nigerian government is trying to recover billions of pounds it believes were looted from the country during the presidency of Goodluck Jonathan between 2010 and 2015. As part of these efforts, civil asset recovery proceedings have been separately filed in the UK, US and Nigerian courts.

Two of the properties were frozen by the UK’s Crown Prosecution Service last year.

A separate court application filed by Nigerian investigators in Abuja in August this year claims ‘one Adeyemi Edun’ received more than $5.5million in cash from Alison-Madueke to be used to buy properties for her in Lagos in May 2011.

Edun said: “Daniel Ford and I have always conducted [our] estate agency work honestly, within the law and the relevant regulations, and that there have been no recorded incidents of [us] engaging in any corrupt activity”.

Read our Mail on Sunday story here:

https://www.thisismoney.co.uk/money/news/article-5096287/TV-property-expert-named-Nigerian-bribery-probe.html

And our Premium Times (Nigeria) story here:

Nigerian who helped Alison-Madueke buy properties in London revealed

 

After our story was published, Nigerian anti-corruption investigators arrested the estate agent the next time he touched down in Nigeria. He was questioned and later released.

“TV property expert held in Nigeria after our probe”

https://www.thisismoney.co.uk/money/news/article-5186485/TV-property-expert-held-Nigeria-probe.html

[Mail on Sunday (UK), 16 December 2017]

 

“Estate agent who helped Diezani Alison-Madueke buy properties in UK arrested”

https://www.premiumtimesng.com/news/headlines/252696-estate-agent-helped-diezani-alison-madueke-buy-properties-uk-arrested.html

[Premium Times (Nigeria), 17 December 2017]

 

We are delighted to put out a call to journalists, campaigners and academics to attend our four-day financial investigative journalism training course in London.

The dates for our next training will be: Tuesday 7 November 2017 – Friday 10 November 2017

You do not need to have a financial background to apply but we consider it important when selecting candidates to see evidence of your investigative experience. Class instructions will take place in English.

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Today, De Correspondent (Netherlands), The Daily Reporter (Kenya), The Observer (Uganda) and MO (Belgium) have published an investigation into the Rift Valley Railway, the historic railroad connecting Kampala to the port of Mombasa. The investigation developed a project of Patrick Mayoyo, one of our members from Kenya and involved journalists from Belgium and the UK. 

In this article our team reveals that the World Bank has opened an inquiry into potential embezzlement of public funds after international development institutions invested over $140m into the line. We travel from Nairobi to Mombassa to find out why RVR has gone off the rails.  

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After North Korea last month claimed it exploded an H-Bomb, western leaders stressed the need to tighten international sanctions against the pariah state.

The prospect of tighter sanctions will be of more than passing interest to a US billionaire and his extensive business dealings with Pyongyang.

Today Private Eye published a piece on the North Korean activities of American Egyptian tycoon, Naguib Sawiris. The story is based on research from Finance Uncovered.

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The Finance Uncovered global network of investigative reporters have today published a cross-border investigation into South African telecoms giant MTN exposing how billions of rand from its subsidiaries in Ghana, Nigeria and Uganda have been shifted to a shell company in the small island tax haven of Mauritius.

The two year investigation spanning five countries was published today in South Africa’s Mail and Guardian, the Ugandan Observer and Ghana Business News.

A report in Nigeria will follow shortly.

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Today, the Prime Minister of the United Kingdom announced that the UK will publish information on property owned by foreign companies.

In a speech in Singapore David Cameron said: “The UK must not become a safe haven for corrupt money from around the world”.

He has committed to starting a central register of land owned by overseas companies this autumn, and will be consulting on whether to introduce a register of beneficial ownership of land in the future.

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Today a movement is born. This morning in Nairobi’s Uhuru park, a place historically associated with the struggle for freedom, campaigners and journalists from throughout Africa gathered see the launch of the Stop the Bleeding Campaign.

The campaign has been launched off the back of the UN Economic Committee for Africa and the African Union’s High Level Panel report on illicit financial flows. The report estimated that over $50 bn a year was being taken from the continent in the form of tax avoidance by multi-nationals, corruption and criminality.

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Yesterday, Monday 2 June, the European Parliament Development Committee unanimously voted to adopt a new report calling on the EIB, EBRD and development finance institutions in member states of the European Union to monitor companies they invest in to ensure they aren’t engaging in tax avoidance through the use of tax havens.

The report from the committee of MEPs drew on an investigation last year by Finance Uncovered. Our investigation revealed that the European Investment Bank had invested hundreds of millions of euros into an Egyptian oil refinery controlled by a shell company in the British Virgin Islands.

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The Egyptian Initiative for Personal Rights has launched a new report that details the loss to the Egyptian Treasury though tax avoidance.

The report was written by Osama Diab, an alumni of the Finance Uncovered programme. It analyses Egyptian government data and finds that between 1970 and 2013 $12bn was invested from tax havens. Using an estimate of a return on capital of 20% the report finds that the Egyptian treasury could be losing 5bn Egyptian pounds (€590m) a year through tax havens.

The report is currently in Arabic only. An English version is in the pipeline but the website Mada Masr has covered the report on their website.