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Man arrested for 5.2 billion birr illegal business, money exchange  

Illegal business _ money exchange
Samuel Equale , suspect police linked to a 5.2 billion birr illegal business (Photo : EBC)

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Ethiopia’s Federal Police on Wednesday said it has arrested a man with a 5.2 billion birr illegal business and money exchange services in the capital Addis Ababa.

It also said that it has arrested 25 other partners suspected of the crime. An investigation is underway.

The main suspect is identified as Samuel Equale ( also uses the alias Sami Dollar) who is said to be a resident of  Addis Ababa.

According to a report by Ethiopian Broadcasting Corporate (EBC), state media, the suspect frequently travels to the United States and has a business license for Electric tools, and house and office furniture.

Police say he has been using the legal business license as a cover to illegally circulate cash and provide black market money exchange services.

Yodit Eguale Alemu, his sibling, was also working with him, police claimed. 

It is also said that police investigated them and they are said to have over 25 joint bank accounts and have carried out a 247 million birr worth transition in just one year. 

Furthermore, police claimed that Samuel and Yodit were illegally making business with 5, 248,000 birr in one year. However, police  unspecified in what year they were making business with the aforementioned amount. 

Police said it got cooperation from the public that led to their arrest and investigation. 

The National Bank of Ethiopia recently rolled out a reward program for individuals who anonymously inform about illegal money transfer and exchange services. 

This week, Prime Minister Abiy Ahmed said it is his government’s priority to crackdown on corruption and economic sabotages including illegal money exchange and transfers. 

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6 COMMENTS

  1. Lock them up and throw away the key. Let them rot in jail. Watch now! They will pick up the US citizenship ‘immunity’ privilege mumbo jumbo or will cry foul because he has been a critic of the government. You just watch. Abiy brutality! Abiy brutality!!! He is not alone in that. I was watching a video clip the other day that shows PM Abiy talking to a crowd and I noticed him looking straight at me through the TV screen. He was giving me that mean look. I was traumatized and emotionally tortured. Abiy brutality! Abiy brutality!!! Him rascal!!!!

  2. There is a rumor now about this criminal activity. Apparently it is not a small outfit. 5.2 billion is almost 100 million in US dollars. The rumor is it has dealings with Debre’s and other groups. That is with zero taxes paid. I tell you Al Capone would be proud of him and his co-defendants.

  3. How about arresting , Adanech Abebe, Shimeles Abdissa, Aba Dula and the resOrommum Prosperity Party/OLF members for the billions of dollar theft and loot?

    Those overnight illiterate riches including Abiy Ahmed with obvious ignorance, lack of education, no skill or sources that suddenly became rich and powerful., How much money they have looted and counted?
    What is their salary? If Abiy Ahmed salary is 400 dollars then Shimels, Adanech and the rest of Ormmuma bozos salaries must be 100 dollars per month but they spent more than 100 dollars for single meal, drive expensive cars and live in big mansions,

  4. 1). TPLF Financial Empire: Seize-and-auction all TPLF assets to rehabilitate-and-compensate TPLF-ravaged communities. Check Proxies: Real Estate , Hotels, Whites, etc.

    2). TPLF Bankers: They cloned Ethiopia’s banks for TPLF with money from CBE & NBE. One shot from a tiny CBE bank deputy manager to a very high NBE post. He later launched many banks with millions in profits in just months. Does he have Birr printer?

    3). TPLF War Machine: TPLF’s armed wing should be hunted down to the last cave and TPLF’s elites brought to justice in an historic Open Court at Mesqel Square. No Mercy!

    4). TPLF Propaganda Machine: This is mostly done by the White Supremacist West’s media and its proxies youtu.be/ZHsZ0I5L_Kg?t=3 . Nima El-Bagir, Sudanese, once told Amy Goodman [PBS – Democracy Now that she entered Tigray via Eritrea.

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