Type of business: Investment in a business in Africa
Our client: Confidential – private investor
Our client invested in a business in Africa and acquired a substantial amount of stock for export, which could not be released through Customs. There was some uncertainty relating to title to the assets. The situation had stalled with no way of proceeding with recovery of assets and export abroad, but ongoing costs continued to be incurred.
- Investor had an employee on-site in South Africa, who was not making progress.
- Key contacts and facilitators not appearing to act in client’s interests.
- Title to assets uncertain and whereabouts unknown.
GSI deployed two personnel from our intelligence team to South Africa. They met with the key contacts and investigated their activities. They found those activities to be suspicious and replicated across many of their “clients”.
Tracing the assets involved travel to locations considered hostile. An armed, covert operation was expedited, which resulted in evidence of fraud, theft and money laundering being presented to the Serious Organised Crime Police Department, with possible prosecutions cross border back to Europe. Potential recovery of stolen assets is possible but probability is low.