The E-Sylum:  Volume 8, Number 48, November 13, 2005, Article 17

YEMENI COUNTERFEIT DISTRIBUTION

An article published in the Yemeni Times this week enumerated
several criminal activities its government has been accused of
being involved in, including distributing counterfeit money:

“Yemeni President Ali Abdullah Saleh is scheduled to visit
the United States in November for a round of meetings with
President Bush and other high ranking US officials. As the
representative of the Yemeni people, Saleh deserves a great
deal of respect and hospitality. Yet it has become increasingly
apparent that the regime, under the total domination of President
Saleh, is engaged in a wide variety of criminal activities to
the detriment of regional stability and the Yemeni people
themselves.”

“Counterfeit Money: The Central Bank of Yemen distributed a
substantial amount of forged currency to its clients. Confirmed
as forgeries by the Yemeni police, the bogus currency distributed
by the Taiz branch of the Yemen Central Bank was in both Saudi
and Yemeni denominations, according to al-Wahdawi news.
Counterfeit Saudi riyals are thought to be regularly smuggled
into Saudi Arabia to be exchanged with authentic denominations.

Adel al-Dhahab, the lawyer who had handled counterfeiting cases
for the Reserve Bank of Yemen in 2004, reported that some of
the counterfeit money stored for protection by the Reserve Bank
was stolen (and presumably re-circulated) by a high ranking
official in the Ministry of the Interior, until the prosecutor
was forced to stamp every bill as counterfeit to prevent such
practices. Mr. al-Dhahab also confirmed that the Central Bank
is used as a mechanism of transferring and investing the personal
funds of top officials overseas.”

To read the complete article, see: Full Story

  Wayne Homren, Editor

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