Sport Staatsbank KfW targeted by investigators over Angola loan

12:25  05 june  2020
12:25  05 june  2020 Source:   moviepilot.de

Woman discovered dead in house - 75-year-old apparently wanted to concretize the body

 Woman discovered dead in house - 75-year-old apparently wanted to concretize the body © Ina FASSBENDER A 75-year-old man in Hagen in North Rhine-Westphalia is said to have attempted to concrete the body of a neighbor in the basement of the apartment building. When the body was found in the basement, policemen discovered tools and cement sacks. A 75-year-old man is said to have tried in Hagen in North Rhine-Westphalia to concrete the body of a neighbor in the basement of an apartment building.

KfW banking group covers over 90% of its borrowing needs in the capital markets, mainly through bonds that are guaranteed by the federal government. KfW also provides loans to European commercial banks to help them finance SMEs, housing and infrastructure (so-called global loans ).

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Frankfurt, Jun 05 (Reuters) - The German development bank KfW has been targeted by German investigators because of a loan to a company in Angola. The police and public prosecutor's office had searched the business premises of the KfW subsidiary Ipex-Bank, the institute said on Friday, confirming reports from the NDR, WDR and "Süddeutsche Zeitung". The development bank cooperates with the authorities, but does not want to comment on the details of the ongoing investigation. According to the media, KfW is being investigated, among other things, on suspicion of infidelity.

The case concerns a loan from Ipex Bank to finance the export of brewery and beverage plants to Angola in 2005. The institute lent EUR 50 million to the state-owned Angolan bank Banco de Poupanca e Credito, which in turn granted a loan to the Sodiba brewery . According to media reports, Angola's president of the brewery has promised tax benefits that will ultimately benefit his daughter, Isabel dos Santos. KfW had announced a few months ago that it had known nothing about the allegations against the presidential family and especially daughter Isabel dos Santos, and that it had relied on the Angolan partner bank's compliance check.

Chancellor Angela Merkel pledged to help Angola solve corruption in February. The fight against fraudulent activities is important for future investments in the South West African country. (Reporter: Patricia Uhlig, edited by Myria Mildenberger. If you have any queries, please contact the editorial team at 069-7565 1236 or 030-2888 5168)

Grujic set for Liverpool return after shining on loan in the Bundesliga .
The Serbian midfielder has made the most of his time in Germany and will come back to Anfield later this monthSerbia international Grujic is coming to the end of his stay at Hertha, who have confirmed he will head back to his parent club at the end of the month.

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