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TPLF’s illegal money laundering network arrested 2021

illegal money laundering network

TPLF’s illegal money laundering network suspects arrested

The TPLF’s illegal money laundering network has been arrested along with the suspects

The Ethiopian Federal Police said that the suspects were arrested through the illegal foreign exchange and money transfer network from Addis Ababa to Togo Chale.

The dollars were collected from Addis Ababa on the black market and worked to weaken the government. It has also been suggested that a major source of funding for the terrorist group by illegally exporting foreign currency collected through commercial networks.

Police said they have arrested six international money transfer companies, 11 individuals from 15 banks and 10,276,496 birr and more than 100 accounts.

money laundering network suspects arrested

Police said they had learned that the terrorist group was trying to weaken the government in Addis Ababa by covering up the legal process, causing a shortage of foreign exchange for imported raw materials, and increasing the cost of living and inciting the people against the government.

The terrorist group is said to have raised money from Ethiopians living abroad to buy weapons and spend money on schooling for their children.
The terrorist group has also put pressure on the country’s economy, exacerbating the cost of living.