Published On  Nov 21,  2010

 Police receive more time to investigate allegations of illegal money exchange

http://addisfortune.com/Court%20Adjourns%20Money%20Laundering%20Hearing.htm

The Arada District First Instance Court granted the Federal Police’s request for additional time to investigate suspects it had arrested for allegedly partaking in illegal banking and money laundering, on Thursday, November 18, 2010.

The court also granted bail to six of the suspects before adjourning the hearing to Wednesday, November 24.

The police had arrested 47 people during raids on shops located in Merkato, Piazza, and Kasanchis areas two weeks ago; only 17 people were still in police custody and appeared in court on Thursday. Some were released due to a lack of evidence while the remainder were granted bail on November 13, according to sources in the Federal Police who were not authorised to comment.

Before the session started, hundreds of family members and friends of the accused swarmed the court’s compound in front of St. George Church in Piazza. A large number of them tried to gain access to the court, prompting the judge to prohibit everyone from entering the small courtroom containing only one bench.

Guards tried to control the people in the crowd, some of whom were openly crying, as the commotion interfered with other sessions taking place.

In an almost two-hour long session, all the suspects asked for bail rights, but it was only granted to six at bonds ranging between 2,000 Br and 5,000 Br. Their family members who were present hurried to present the money before the end of the workday in an attempt to have them released the same day.

Police had been granted additional time to collect evidence the previous time the suspects appeared in court, on November 11.

They were arrested during what was the second raid on businesses suspected of conducting hawala, exchanging foreign currency for Birr outside of financial institutions, in two years. In March 2008, close to 40 people were arrested for the same offence.