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Standard Bank's US$ 600 Dar bonds embroiled in graft

It has been officially confirmed that the Standard Bank’s US$ 600 million private placement at the London Stock Exchange in 2012, was riddled with corruption of at least US$ 60 million paid to government officials. The Britain’s Serious Fraud Office fined the LSE listed South African Bank US 13 million for the offence but the Bank of Tanzania Governor, Professor Benno Ndulu said the money belonged to a private bank.

Source: Tanzanian News