The Association of Commercial Company Victims in Burkina Faso (AVST / BF), denounced a “slowness” in processing their case, in a statement sent to Wakat Séra this Wednesday 2022. AVST is offended that “Mr. BREBA created its own investment company and dissipated the investments of more than 4,000 people in the amount of several billion FCFA undisturbed to this day. In the days to come, if the situation does not change, the victims of commercial companies intend to go to court to denounce the “slowness” in the progress of their case and ask for “rigorous treatment”.
Opening statement
Hello, dear media, and thank you for attending this press conference. Exactly a year and a few days have passed since the Association of Victims of Commercial Companies of Burkina Faso (AVST/BF) invited you to its umpteenth press conference, precisely on November 13, 2021. A year later you have always remained by our side committed See More to the manifestation of the truth. Allow us to pay tribute to your tenacity and love of 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 in kind with our due after the unfreezing of the funds ordered by the justice of our country in March 2020. We remind you that the Public Prosecutor had ordered the freezing of the funds on suspicion of the money laundering and terrorist financing. The State, through the Ministry of Finance and the Economy, is at the origin of this crisis as no precautionary administrative measure was adopted upstream for the repayment of the funds raised, when the authorities asked the commercial companies to stop l ‘activities. It should be noted that these companies were created completely legally under the nose and beard of our authorities.
A decent hell ensued for investors who no longer know where to turn. Deaths, divorces, imprisonments, suicides are countless and the bloodletting continues today. Since then, the offending companies have done nothing concrete to reassure their victims. After much negotiation and negotiation our executioners have shown no desire to pay off the investors who have used all means to resolve the crisis and return to their rights.
To start Globumi who claimed to pay by ticket said he will proceed with the repatriation of funds, before announcing against all odds that he has lost all funds. After a 6-month moratorium that we granted them, the situation has hardly changed despite the concessions made by investors. Glofas, meanwhile, has remained silent and made no payments. Barka’s finances fared no better. The head of royal finance, Mr. Franck AMADJAKO of Beninese nationality, after having emptied his accounts, left Burkina Faso without worrying and travels the world with total impunity. We can remember that nothing has changed and the chaos is real.
Dear Media,
Basing our hopes on Burkina Faso’s justice, we were soon disappointed. Indeed, an audit commissioned by the judicial system was carried out by Mr. Jean Michael BREBA, a shady and disreputable individual who is already in trouble with the judiciary. In fact, Mr. BREBA had set up his own investment company and dissipated the investments of more than 4,000 people amounting to several billion FCFA without worrying to this day. Brace yourself, 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 going to court individually decided by mutual agreement to entrust their file to the law firm TARAORE and GOUEM. These were able to form in March 2022 and the work continued as best they could.
At the beginning of their work, the lawyers asked the investigating judge for numerous documents, among others, the IT files relating to the movements on the accounts of the investment companies of the funds, the expert report, the hearing reports, etc. For the hearings of the resource subjects, in particular the CFOs of the aforementioned investment companies, the banks; our lawyers have come up against several obstacles. In fact, the investigating judge had not deigned to listen to the banks through which the funds transited, much less the CFOs of the indicted companies. In one of the letters that the investigating judge sent to our councils he said and I quote: “as far as possible I will ask to meet X and Y”. Some additional skills are still and still waiting. What really blocks the hearings of certain people who are on Burkinabé territory? We dare to hope that the judicial authorities are not insensitive to the misery of over 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 dossier of its first official, which needs to be translated at the Farnesina level, still lies in the drawers. As regards Glofas, whose manager is Mr. Moussa KERELA, the councils have indicated that the release of funds is not yet effective for reasons unknown to us. In this regard, bailiff’s documents were sent to the banks to warn them of the arrival of the funds, the broker who holds the funds abroad was reassured about the destination and use of the funds but until then mystery and gumdrop.
The requests for precautionary seizure were made at the request of the defenders. The sum of 900,000 CFA francs was found in the account of one of our creditors. The investigations also revealed that Globumi officials signed checks in their name after the funds were released to withdraw the money from banks. For the rest of the procedure, the lawyer wanted to be associated with the hearings. The executives of Barka Finances led by Mr. Ousmane ZORINGRE, far from trading, used our money to set up a microfinance structure with a capital of 1 billion CFA francs as well as a transport company. The headquarters are located in Larlé not far from the National Police School and the railways. It should be noted that the real estate company born after the release of the funds had to offer land to investors as compensation for their investment. All these acts were carried out without taking into account the conditions set in the blocking order issued by the investigating judge.
The situation is going from bad to worse. The bosses of Gobumi, DIALLO and SOMBIE had benefited from the favors of the judge to get out of jail three times a week. It was about being able to get out of prisons to trade in order to repay investors. No point on its results has been made to investors by the interested parties, let’s not talk about justice. No one received a kopeck.
Worse still, on the eve of the new authorities’ seizure of power, these two leaders of Globumi who owe around 20 billion to investors have been granted temporary release from prison. The Court of Appeal, which is at the basis of it, has not deigned to involve our consultancy as foreseen by the procedure. In fact, no correspondence has been sent to the councils, so that neither the investigating judge nor the investors know the conditions and the reason for this release.
We appeal to the new authorities, in particular to the President of the Transition, Ibrahim Traoré, who has chosen with his government to change paradigms. The Burkinabe litigant wants to believe in the good faith of justice but the latter does not reassure him in his approach. In the coming days, if the situation does not change, we will march on justice to denounce the slowness in the treatment of our dossier and ask for rigorous treatment.
Together we will win!!
Association of Victims of Commercial Companies in Burkina Faso (AVST/BF)
President: Moumouni Fabré
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