The Globe and Mail – Report on Business | September 15, 2016 

 

Michael Babad’s Top Business Stories of the day

 

Morning Briefing: Why we’re so beholden to our banks

What a 1-percentage-point rise in mortgage rates could mean Read more

Today’s Business Headlines

Wal-Mart’s ban on Visa spreads to Manitoba

Starting on Oct. 24, Wal-Mart will stop accepting Visa in all 16 of its Manitoba stores Read more

Golf Town to be sold off to debt holders, close some stores

Ailing specialty chain has been struggling to draw in customers while battling online competition in a weak market, and will be closing stores Read more

Canada given lukewarm grade on anti-money laundering efforts

Financial Action Task Force says efforts have improved, but significant gaps leave the country open to illicit financial activities Read more

Empire Co. profit falls as challenges in Western Canada persist

Parent company of the Sobeys grocery store chain earned $65.4-million in its latest quarter compared with $108.8-million a year ago Read more

Bayer-Monsanto deal the latest merger to sweep beleaguered agri-foods sector

Bayer agrees to $128 (U.S.) per share offer; companies agree on $2-billion break-up fee Read more

Source: The Globe and Mail 

Vanessa Kabore: Political Greed, Government Corruption, “The Bank” And Ill Gotten Gains

By Andrew Phillip Chernoff   Sept 1, 2016

From the strange and unusual comes a great tale.

One of intrigue and curiosity, that is pulled from the headlines of political greed, government corruption at the highest levels and complicity of the financial sector.

From Vaneesa Kabore, manager of  bill and exchange of “The Bank”, to greedy African politicians that used “The Bank” to launder money overseas through the help of their political advisers for over seven years.

They all wanted their share of ill gotten gains from funds which were transferred out of the shores of Africa from gold and oil money that was supposed to have been used to develop the continent.

And Kabore was no different. She had her reasons.

Kabore siphoned off part of the funds, worth five million five hundred thousand  U.S. dollars for herself, ensuring no official trace of how much was transferred as all the accounts used for such transfers of the funds were closed after transfer.

Kabore’s motive was simple: As the account officer to most of the politicians, when she discovered that they were using her to succeed in their greedy act, she cleaned some of their banking records from “The Bank” files and no one cared to ask her for the money as she was in control. She was able to divert her share which was put in an escrow transit account in the bank.

But seven years later, things are unravelling.

Now “The Bank” is very anxious to know the “real” beneficiary of the funds because they have made a lot of profit with the fund.

Complicating matters, Kabore is soon to retire from the bank and is looking for somebody to take transfer of the money into their account quickly. Her dreams of a happy and secure retirement are threatened.

The willing person must agree to Kabore coming to the recipients’ country for the sharing of the fund. The fund will be shared 50% for Kabore and 40% for you, and the other 10% for the orphanages and poor.

How will it end? Most of the politicians that participated in the illegal conspiracy and stealing of funds are no longer in power and they don’t use “The Bank” to transfer funds overseas anymore since their tenure has expired. Will they be found out and be brought to justice?

And Kabore, will she find a willing partner to assist her get access to her millions of U.S. dollars and make her retirement a happy and fulfilling one?

Look for the book or movie………or email….to be coming your way.