The UK and US governments have recently sanctioned Kamlesh Pattni, a British-Kenyan businessman linked to extensive illicit gold trading, as part of a broader effort to combat corruption and illegal markets.
UK Imposes Sanctions on Kenyan Gold Tycoon Kamlesh Pattni Over Illicit Trade
UK Imposes Sanctions on Kenyan Gold Tycoon Kamlesh Pattni Over Illicit Trade
UK and US sanction Kenyan businessman, citing long-standing involvement in gold smuggling
In a significant move, the British and American authorities have targeted Kamlesh Pattni and four associates, including his spouse and brother-in-law, imposing asset freezes in response to their alleged engagement in the illegal gold trade. The UK Foreign and Commonwealth and Development Office issued a statement highlighting Pattni's long history of smuggling gold out of Africa and his notorious involvement in the Goldenberg scandal, which is estimated to have cost Kenya over $600 million.
Pattni has gained notoriety in Kenya's political landscape for his alleged role in the Goldenberg scandal, a major gold and currency fraud that unfolded during the 1990s, resulting in economic turmoil for the nation. Despite facing charges in 2006, the case against him collapsed, allowing him to continue operating in various illicit markets. He has also been linked to corruption in Zimbabwe, where he purportedly exploited local resources with the aid of former President Robert Mugabe.
The UK's statement strongly condemned illicit gold trading, asserting it complicates legitimate markets and facilitates broader issues such as corruption and human rights abuses, including child labor. Furthermore, it highlighted the underlying connection between illicit gold markets and global conflicts, particularly regarding the financing of Russia's war in Ukraine through illegal gold profits.
Pattni continues to deny allegations of money laundering and gold smuggling, despite investigations such as Al-Jazeera’s exposé on the so-called "gold mafia" in Zimbabwe identifying him as a key player in these activities. The US Treasury characterized his operations as a lucrative network spanning multiple countries, enriching corrupt officials while depriving local citizens of their rightful resources.
The latest sanctions align with the UK's new initiative aimed at addressing global corruption, signaling a firm stance against those aiding illegal markets and undermining economies in developing nations.
Pattni has gained notoriety in Kenya's political landscape for his alleged role in the Goldenberg scandal, a major gold and currency fraud that unfolded during the 1990s, resulting in economic turmoil for the nation. Despite facing charges in 2006, the case against him collapsed, allowing him to continue operating in various illicit markets. He has also been linked to corruption in Zimbabwe, where he purportedly exploited local resources with the aid of former President Robert Mugabe.
The UK's statement strongly condemned illicit gold trading, asserting it complicates legitimate markets and facilitates broader issues such as corruption and human rights abuses, including child labor. Furthermore, it highlighted the underlying connection between illicit gold markets and global conflicts, particularly regarding the financing of Russia's war in Ukraine through illegal gold profits.
Pattni continues to deny allegations of money laundering and gold smuggling, despite investigations such as Al-Jazeera’s exposé on the so-called "gold mafia" in Zimbabwe identifying him as a key player in these activities. The US Treasury characterized his operations as a lucrative network spanning multiple countries, enriching corrupt officials while depriving local citizens of their rightful resources.
The latest sanctions align with the UK's new initiative aimed at addressing global corruption, signaling a firm stance against those aiding illegal markets and undermining economies in developing nations.
