Senegal ex-president's son Karim Wade jailed in graft case

23 Mar 2015 / 21:39 H.

DAKAR: Karim Wade, the flamboyant son of Senegal's former president Abdoulaye Wade, was sentenced Monday to six years in jail in a graft case that has gripped the nation.
The presidential hopeful and former minister was found guilty of "illicit enrichment" and also fined the equivalent of more than €210 million (RM841.58 million) but was cleared of the main corruption charge.
The 46-year-old had gone on trial in June 2014 charged with illegally acquiring companies and a large amount of real estate while serving in various government posts during his father's 2000-2012 presidency.
Wade, who has been in custody since April 2013, denied the charges against him.
Prosecutors had sought a seven-year prison term and a fine of €380 million.
The verdict comes just two days after Wade was chosen by Senegal's once ruling Democratic Party to be its candidate in the next presidential election.
After pursuing a successful career in finance in the City of London, Karim Wade returned to Senegal two years after his father's 2000 presidential victory, and was soon tapped for a series of increasingly important public positions.
Those included simultaneous appointments to several key portfolios, earning him the nickname "minister of heaven and Earth." – AFP

sentifi.com

thesundaily_my Sentifi Top 10 talked about stocks