6th of December the U.S. Treasury sanctioned Alain Mukonda (Mukonda) on the grounds of his providing support to the sanctioned billionaire Dan Gertler, and 12 companies linked to Mukonda in the Democratic Republic of the Congo and Gibraltar.
Dan Gertler is known to have amassed a fortune of hundreds of millions of dollars via his ties to the DRC’s former president Joseph Kabila. Gertler’s friendship with Kabila had brought him opaque mining and oil deals in the DRC, and the capacity to act as a go-between for multinational enterprises who wanted to do business with the Congolese state.
The country is reported to have lost, from 2010 to 2012 alone, $1’36 Billion in revenues, due to assets being underpriced and sold to offshore companies linked to Gertler.
Gertler was included in the Annex to E.O. 13818 for partaking in corruption in the Democratic Republic of the Congo. OFAC had designated, in 2017, 19 companies and one associate of Gertler; and in 2018, another 14 companies owned by or linked to him.
Close Associate and “Lifeline” for Gertler sanctioned by the Treasury
Mukonda is designated on the grounds of his making cash deposits into accounts of companies owned by Gertler’s family following the latter’s designation in 2017. Mukonda has also been involved in re-domiciling companies of Gertler based in Gibraltar and the British Virgin Islands, to the DRC.
The Treasury has designated 11 entities based in the DRC and one entity headquartered in Gibraltar pursuant to the E.O. 13818.
Rapacious corruption has been hindering growth and investment for the Democratic Republic of Congo. The Treasury press release has pointed out to the determination of DRC government officials to root out illicit practices which will pave the way for a number of commercial industries with the capacity to bring prosperity to the country’s impoverished population.
