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Obasanjo Foundation in London collapses

04 August 2016, 12:45

London - The Olusegun Obasanjo Foundation (OOF), which the former president set up as a charity organization in the United Kingdom, has collapsed and is now in liquidation.

Investigation revealed that the UK has terminated the status of the OOF as a charity in the country.

The UK Charity Commission classifies the OOF as both "insolvent" and "in liquidation," and SaharaReporters learned it has been a non-entity since January this year.

The former Vice Chairwoman of the foundation Anne Welsh had in a video alleged to have to laundered $4.9 million by using the OOF as an illicit front.

A transcript of Welsh's conversation and plot to commit financial crime was also released.

May 8, 2015 investigation published by SaharaReporters found that the Charity Commission investigated the OOF for conflict of interest involving its Board of Trustees and Welsh since 2014.

SaharaReporters reported in a separate investigation on May 12th 2015, that “since its inauguration in 2012, the Obasanjo Foundation has had Olusegun Obasanjo, Anne Chigoziem Welsh, [her husband] Marvin Welsh, and a woman named Temilade Marcella Olatunde as its directors.

SaharaReporters’ investigation has found that Ms. Welsh, Mr. Welsh, and Obasanjo were financially connected in a number of other companies, along with Temilade Marcella Olatunde.”

It was also found that “between 2011 and 2014, Marvin Welsh, Anne Welsh and Temilade Olatunde all served as directors in New World Capital Ltd, a financial management company. Both former President Obasanjo and Ms. Welsh were also directors in Arise Consult, another financial management company.” New World Capital entered into liquidation, according to the UK Company House online records, on December 8th 2017 several months after SaharaReporters investigations on it.

Our report of May 7, 2015 involved a video of a meeting in the United Kingdom in December 2014, that showed Ms. Welsh in a $4.9 million scheme to exploit West Africa’s Ebola Virus Disease crisis for private gain.  The video showed Ms. Welsh, her stepdaughter and personal assistant Sierra Welsh, and two unnamed men discussing ways to secretly launder $4.9 million through the OOF

Source: Saharareporters

- News 24


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