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[Aug 2017] Corruption Charges Latest Ethiopian News AddisBiz.com | Ethiopian Business Directory & Portal - Addis Biz

Simachew Kebede Finally Gets out of Prison

Simachew Kebede, the major shareholder of DH Simex Plc that owns Intercontinental Addis Hotel, finally gets out of prison after settling the case with the Federal Prison Administration, which resisted his release mentioning the pending appeal against him. He was released on July 13, 2017, with prohibition after serving four years of a six-year sentence for tax evasion crimes for which he was convicted.

The Federal High Court found him guilty and sentenced him during the court session held on June 14, 2017. But lawyers started

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Court freezes assets of major construction companies in a continued corruption case

Corruption crackdown continues as the number of suspects who are placed under custody reaches 55 as of yesterday. Moreover, an asset freeze order was issued against 210 individuals and 15 companies who are suspected of having dealings with the officials, individuals and brokers who are arrested for corruption charges.

The court has issued an asset freeze order on Gemeshu Beyene Construction Plc and Ellily Hotel, both owned by a notable businessman- Gemeshu Beyene.

Construction companies including, ASER Construction Plc.,

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Arrests in corruption charges of major government officials and business people

In what could be considered to be a major crackdown on corruption in the past few years, the Federal and Addis Ababa Police have apprehend some 39 government officials, brokers and businesspersons in the middle of the week and charged them with corruption, which involves more than 1.15 billion birr.

The detainees appeared before the Federal High Court Lideta Bench on Thursday and the investigators of the Federal Police and the Attorney General has been granted 14-day extension to conclude their investigation and level formal

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Supreme Court Exonerates Fikru Maru

Justices of the Supreme Court have ruled acquitting Fikru Maru (MD), a cardiovascular specialist and hospital owner, overruling an earlier conviction of corruption given by a lower court which sentenced him to four years and eight months.

An appeal lodged by Fikru pleading reversal of the ruling rendered by judges at the Federal High Court has culminated in exonerated him from charges after he has served four years of his jail term. On May 3, 2017, the Justices ruled the defendant was free from charges brought against him by

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More prominent businessmen arrested on corruption charges

ketema kebede simachew netsa trading melaku fentaGebreselassie Hailemariam, a.k.a Aleqa Gebreselassie – owner of the COMET Building in the Hayahulet Mazoria area in Bole District, and father of Yemane Gebreselassie, who owns the new Capital Hotel & Spa on Haile Gebreselassie Avenue- was arrested three weeks ago, in connection with the current high profile

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