The Ethiopian police over the weekend announced they have made dozens of arrests in the latest move to crack down on the expanding black market and illicit money transfer in the capital, Addis Ababa.
The arrests were conducted based on tipoffs reached to the police from the public, the federal police said in a statement.
The statement identified the main suspect as Samuel Egwale, also known as Sami Dollar, with a license to import electronics and housing equipment.
Police accused him of engaging in illegal money transfer and foreign currency exchange activities using his import license as cover.
Samuel along with his sister illegally transferred more than $4.7 million in one year alone via 25 different bank accounts, the police have alleged.
In addition, the statement said police found evidence showing that Samuel and 25 other suspects illegally transact $99.6 billion in a year.
Investigation into the cases is still ongoing, said police, after putting all the suspects in custody.
The individuals are accused of engaging in remittance without having a license and evading taxes.
Police also alleged that the suspects have been working in connection with the outlawed Tigray People’s Liberation Front.
MG/as/APA