The son of Senegal’s former President deposited more than £127 million at a bank in Monaco while his father was in office, it has emerged. Authorities in Monaco said Karim Wade placed the money in accounts at the Julius Baer bank between 2002 and 2013.
They are co-operating with Senegalese officials who are prosecuting Mr. Wade on charges of illicit enrichment following a month-long investigation into how he amassed a fortune of more than $1.3 billion during the period when his father, Abdoulaye Wade, was President. Funds held in at least 24 active bank accounts have been linked to 50 companies that Mr. Wade is alleged to have used to siphon off state funds.
This summer Wade’s accounts at the French bank Societe Generale were frozen at the request of Senegal’s current President, Macky Sall. Mr. Wade (44) denies the charges, and this week several dozen supporters staged a demonstration as he appeared in court. — © Guardian Newspapers Limited, 2013