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President denies claims of money laundering

South African President Cyril Ramaphosa denied allegations of money laundering while being questioned by lawmakers yesterday over a scandal that threatens his position and the direction of Africa’s most developed economy. Ramaphosa already faces an investigation by police and a Parliament-appointed panel over the theft of a large amount of money in US dollars from his ranch in 2020. He has been accused of illegally holding around US$4 million (NZ$7 million) in cash at his game ranch in northern South Africa and covering up its theft in an attempt to hide the existence of the money. The allegations first surfaced in June when the former head of the national spy agency made a criminal complaint to police, accusing Ramaphosa of money laundering and other offences.

World

en-nz

2022-10-01T07:00:00.0000000Z

2022-10-01T07:00:00.0000000Z

https://fairfaxmedia.pressreader.com/article/281698323627802

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