Congo Hold-up: legal repercussions in France, Switzerland and Belgium

Headquarters of BGFIBank in Kinshasa, DRC.

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Based on the analysis of millions of leaked bank documents and financial transactions, the vast international Congo hold-up investigation revealed last December the names of those who allegedly participated in the embezzlement of the DRC's wealth.

French, Belgian and Swiss courts have since opened investigations.

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In Belgium, the investigation for "corruption" targets

.

This one is one of the 100 biggest fortunes of Belgium and directs the companies SDA Holding and African Equities, specialized in the distribution of agricultural equipment and public works.

Philippe de Moerloose is said to have overcharged equipment, for a total amount of 740 million dollars to the DRC of the then president Joseph Kabila.

On June 14, Belgian anti-corruption officers raided three private homes of the wealthy businessman, as well as three of his companies.

$19 million

The name of the Belgian businessman has also been cited in Switzerland.

Three NGOs have lodged a criminal complaint with the Federal Public Prosecutor's Office.

According to the revelations of Congo Hold-up, Philippe de Moerloose would have received 19 million dollars of dubious origin on his accounts in Zurich and Geneva opened in the Swiss bank UBS.

The latter is suspected of being involved in the laundering of Congolese public funds embezzled by the clan of Joseph Kabila.

The French national financial prosecutor's office has opened an investigation into flows deemed "suspicious" between the subsidiaries of the Congolese bank BGFI and France.

In addition, two whistleblowers and former employees of the BGFI, Jean-Jacques Lumumba and Guylain Luwere, have obtained

.

Both men were allegedly intimidated after reporting illegal activities within the BGFI in 2016.

► To read also: DRC: justice opens a case against Sud-Oil and Egal after the Congo Hold-up investigation

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