By: Nana Antwi Boasiako and Sefah-Danquah
A recent report, “How Dirty Money Finds a Home in Dubai Real Estate” (published May 14, 2024) by the Organized Crime and Corruption Reporting Project (OCCRP), sheds light on how politicians and criminals hide their wealth by investing in Dubai real estate, taking advantage of the city’s reputation for financial secrecy, which has made it a haven for illicit investments and money laundering.
The leaked records, which dates largely from 2022 and 2020 were initially obtained by the Centre for Advanced Defense Studies, a Washington D.C nonprofit that researches international crime and conflict. The data was then shared with the Norwegian financial outlet E24 and OCCRP, who coordinated an investigative project with more than 70 media outlets around the globe.
“Dubai is far from the only place where criminals and others looking to stash their wealth have been able to scoop up properties — New York City and London real estate have also been known to attract dirty money. But experts interviewed by OCCRP said several factors strengthen Dubai’s appeal, particularly for those who are thwarted by sanctions from owning property in Western democracies or are on the run from law enforcement,” part of the report highlighted.
Former Ghanaian Minister, Inusah Abdulai Fuseini, has been identified as one of several politicians globally who own properties in Dubai, according to the report.
According to the OCCRP report, he has been linked to 20 properties in Dubai approximately $6.9 million, as indicated on a map accompanying the report.
Inusah Abdulai Fuseini, has a distinguished political career, having held various ministerial positions, including Minister of Roads and Minister of Land and Natural Resources.
Meanwhile, the former minister has denied the claims. He says he has directed the matter to his lawyers who have advised him to say less on the issue. Mr. Inusah Fuseini shares that he has never set foot to the places the report alleges he owned properties. He also claims the timelines used on the report which was first publicized locally by a journalist at the Dispatch Newspaper, a newspaper outlet managed by the veteran journalist – Ben Ephson, are wrong.
According to Mr. Fuseini, the publication of the report could be a ploy to deflect the attention being drawn on the government onto former ministers.
Three other Ghanaian individuals were implicated in the investigation: former Supreme Court Judge Anthony Alfred Benin, former Electoral Commission official Joseph Kwaku Asamoah, and former Member of Parliament Moses Aduko Asaga.
Other African politicians named in the report include Nigeria’s former Vice President, Abubakar Atiku and former Nigerian Representative, Abubakar Garba Shehu among others.