MBABANE:Kareem Ashraff,the Director of Union Papers(Pty) Ltd had his company’s combined over R36million bank transfer from a Mauritius based company-Global Trading and Professional Outsourcing Limited, investigated by Nedbank Eswatini amid money laundering allegations, an independent investigation conducted by this publication reveals.
The Nedbank Eswatini investigation according to documents in possession of this Swaziland News, was triggered by an alleged questionable supply agreement signed by Ashraff’s Union Papers(Pty)Ltd and Global Trading on 2nd March 2022 but, a month later, Ashraff through his Union Papers Nedbank account, received large payments from Global Trading with a combined value of over R36million.
Worth-noting, Ashraff subsequently transferred part of the money to Everest Waste Management, a company based in South Africa without producing evidence substantiating the delivery of goods from the South African company.
“The client received two large payments through their dollar account 1st on 22/04/2022 USD774,502.22 and again on 18/05/2022 which have a combined value of E36,953,660.43 from a third party “Global Trading & Professional Outsourcing Limited” located in Mauritius for services rendered. The client later transferred these funds to their Call account where on the two occasions half of the payments received were transferred to “Everest Waste Management” a South African based entity. These transactions are suspicious mainly because the entity cannot effectively evidence the delivery of these goods to the S.A company. Moreover, the channels with which the funds follow to effected payment are suspicious especially when considering the relaxed financial of Mauritia’s where the third party is based. We suspect the entity might be involved in some high-level money laundering activities”, reads the Nedbank report in part.
Reached for comments, Fikile Nkosi,the Nedbank Managing Director referred comments to ‘Spokesperson’ Ncamiso Dlamini who asked this journalist to send a questionnaire but, Dlamini had not responded at the time of compiling this report.
The documents further suggest that, Ashraff was suspected by Nedbank Eswatini to have prepared a questionable supply agreement with Global Trading, with an alleged intention to engage in money-laundering.
Ashraff, the Director of Union Papers(Pty) Ltd declined to comment and clarify this matter when reached for comments by this Swaziland News, efforts to reach Global Trading and Everest Waste Management proved unsuccessful at the time of compiling this report.
Kareem Ashraff has been consistently exposed by this publication for engaging in alleged corruption within the Ministry of Health where he allegedly looted billions, resulting in the shortage of drugs in public hospitals.
But it appears that, the businessman of Indonesian origin has been engaging in alleged corruption within various departments and industries in eSwatini that include Defense and State Security, health, technology and construction among others.
A leaked document that forms part of the investigation.