Burkina / Trading: victims denounce a “slowness” in the processing of their file

PhD AIB

The Association of Victims of Trading Companies in Burkina Faso (AVST / BF), denounced a “slowness” in the processing of their case, in a statement sent to Wakat Séra this Wednesday 2022. AVST is offended by the fact that “Mr. BREBA created his investment company and dissipated the investments of more than 4,000 people to the tune of several billion FCFA undisturbed to this day. The victims of trading companies, in the days to come, if the situation does not change, intend to go to court to denounce the “slowness” in the processing of their case and ask for “rigorous treatment”.

Opening statement

Hello dear media people, and thank you for attending this press conference. It’s been exactly a year and a few days since the Association of Victims of Trading Companies in Burkina Faso (AVST / BF) invited you to yet another press conference, precisely on November 13, 2021. One year later you stayed by our side always committed to the manifestation of the truth. Allow us to salute your persistence and your love for justice.

Since 2019 we have been at loggerheads with four investment companies: Globumi, Glofas, Royal finance, and Barka Finance. The managers of these companies, driven by bad faith and dishonesty, dissipated into nature with our due after the unfreezing of funds ordered by the justice of our country in March 2020. We remember that the Public Prosecutor’s Office had ordered the freezing of capital for suspicion of money laundering and terrorist financing. The State, through the Ministry of Finance and the Economy, is at the origin of this crisis since no upstream precautionary administrative measure has been taken for the reimbursement of the funds collected, when the authorities asked the trading companies to cease their activities. It should be noted that these companies were created completely legally under the nose and beard of our authorities.

There followed a decent to hell for investors who no longer know where to turn. Deaths, divorces, imprisonments, suicides cannot be counted and the bloodletting continues to this day. The incriminated companies have done nothing concrete to reassure their victims since then. After many negotiations and negotiations our executioners have shown no desire to pay the investors who have used all means to resolve the crisis and return to their rights.

To start Globumi who claimed to pay by ticketing declared that she will proceed by repatriation of the funds, before announcing against all odds having lost all the funds. At the end of a 6-month moratorium that we granted them, the situation has hardly changed despite the concessions made by investors. Glofas, meanwhile, remained silent and made no payments. Barka finance did not do better. The head of Royal finance, Mr. Franck AMADJAKO of Beninese nationality, after having emptied his accounts left Burkina without being worried and travels around the world with complete impunity. We can remember that nothing has changed and the chaos is real.

Dear Media People,

Basing our hopes on the justice of Burkina Faso, we were quickly disillusioned. Indeed, an audit of the accounts commissioned by the justice system was carried out by Mr. Jean Michael BREBA, a shady, disreputable individual who is already in trouble with the law. Indeed Mr. BREBA had created his investment company and dissipated the investments of more than 4,000 people to the tune of several billion FCFA without being worried until today. Hold on tight, the latter is the friend of Globumi’s first manager, Mr. Hyppolite B. SOMBIE. Anyone can claim to be an expert and collaborate with justice. On what basis was Mr. BREBA selected? Was he impartial? Not seeing the end of the tunnel, the investors after having gone to court individually decided by mutual agreement to entrust their file to the law firm TARAORE and GOUEM. These were able to be formed in March 2022 and the work continued as best they could.

At the start of their work, the lawyers asked the investigating judge for numerous acts, among others, the digital files relating to the movements on the accounts of the investment companies of the funds, the expert report, the reports of hearing etc. For the hearings of the resource persons, in particular the CFOs of the said investment companies, the banks; our lawyers have come up against several obstacles. Indeed the investigating judge until then did not deign to hear the banks through which the funds passed, even less the CFOs of the incriminated companies. In one of the letters that the examining magistrate addressed to our councils he said and I quote: “as far as possible I will ask to meet X and Y”. Some additional expertise is still and still waiting. What is really blocking the hearings of certain people who are on Burkinabe territory? We dare to hope that the judicial authorities are not insensitive to the misery of more than 70,000 souls.

The issue of the extradition of the head of Royal Finance, Mr. Franck AMADJAKO, was discussed with the investigating judge on several occasions. Until then, the extradition file of its first official, which must be translated at the level of the Ministry of Foreign Affairs, is still lying around in the drawers. With regard to Glofas, whose manager is Mr. Moussa KERELA, the councils indicated that the release of funds is still not effective for reasons unknown to us. On this subject bailiff deeds have been sent to the banks to warn them of the arrival of the funds, the broker who holds the funds abroad has been reassured as to the destination and use of the funds but until then mystery and gumdrop.

The requests for precautionary seizure were made at the request of counsel. The sum of 900,000 CFA francs was found in the account of one of our creditors. Investigations also revealed that Globumi officials after the unfreezing of funds wrote checks to themselves in their name to withdraw the money from the banks. For the rest of the procedure, counsel wished to be associated with the hearings. The managers of Barka Finances headed by Mr. Ousmane ZORINGRE, far from trading, used our money to create a microfinance structure with a capital of 1 billion CFA francs in addition to a transport company. The head office is located in Larlé not far from the National Police School and the rails. It should be noted that the real estate company which was born after the unfreezing of the funds had to offer plots to investors in compensation for their investment. All these actions were carried out without taking into account the conditions enacted in the unfreezing order issued by the investigating judge.

The situation is going from bad to worse. The leaders of Gobumi, DIALLO and SOMBIE had benefited from the favors of the judge to leave the prison three times a week. It was about being able to leave the jails to trade with a view to reimbursing investors. No point on its results was made to the investors by the interested parties, let’s not talk about justice. No one received a copeck.

Worse, on the eve of the seizure of power by the new authorities, provisional release was granted to these two leaders of Globumi who owe around 20 billion to investors. The Court of Appeal, which is the basis of this, did not deign to involve our advice as provided for in the procedure. Indeed no correspondence was sent to the councils, so that neither the examining magistrate nor the investors know the conditions and the reason for this release.

We appeal to the new authorities, in particular the President of the Transition, Ibrahim Traoré, who has chosen with his government to change paradigms. The Burkinabè litigant wants to believe in the good faith of justice but the latter does not reassure in his approach. In the days to come, if the situation does not change, we will march on justice in order to denounce the slowness in the treatment of our file and ask for rigorous treatment.

Together we will win!!

Association of Victims of Trading Companies in Burkina Faso (AVST/ BF)

President: Moumouni Fabré

Post Views: 64

Leave a Comment