Skip to content
Search

Latest Stories

Kamlesh Pattni faces UK sanctions for illicit gold trade

Pattni has been accused of smuggling gold out of Africa for decades

Kamlesh Pattni faces UK sanctions for illicit gold trade
Pattni stands accused of central involvement in the infamous Goldenberg scandal. (Representational image: iStock)

THE UK and US have imposed financial sanctions on Kamlesh Pattni, a British-Kenyan businessman with a controversial financial history. The punitive measures target Pattni and four of his close family members, including his wife and brother-in-law, reported the BBC.

The sanctions, announced by the UK Foreign, Commonwealth and Development Office, will result in the immediate freezing of assets, representing a significant intervention in what officials describe as a complex network of illicit gold trading spanning multiple African nations.


Pattni, a controversial figure with a long history of financial irregularities, stands accused of central involvement in the infamous Goldenberg scandal—a massive corruption episode in Kenya during the 1990s that is estimated to have caused approximately £470 million in national economic damage.

Despite previous legal proceedings in 2006 that ultimately collapsed, Pattni has continued to be a subject of intense scrutiny.

The British government's statement strongly condemned the illegal gold trade, characterising it as a fundamental threat to legitimate economic practices.

Officials described these activities as actively fuelling corruption, systematically undermining legal frameworks, and perpetuating severe human rights violations, including the exploitation of child labour.

The sanctions announcement also highlighted how similar illegal trading mechanisms have been exploited by other international actors. The statement referenced Russia's use of illicit gold trading as a method to launder money, evade international sanctions, and potentially support military operations in Ukraine—a practice Western nations have been actively working to curtail since banning Russian gold imports in 2022.

According to US Treasury documentation, Pattni's alleged misconduct extends beyond Kenya, with claims that he leveraged personal relationships with former Zimbabwe president Robert Mugabe to systematically exploit natural resources.

The Treasury accused Pattni of operating a fraudulent scheme that deprived Zimbabwe's citizens of legitimate economic benefits while simultaneously enriching corrupt government officials and criminal networks.

Pattni, who has since reinvented himself as a self-proclaimed pastor, was prominently featured in an Al-Jazeera investigation into what was termed the "gold mafia" in Zimbabwe.

Despite being directly implicated in these investigations, he has consistently denied any involvement in money laundering or gold smuggling activities.

The US Treasury said Pattni's network spanned several countries, including entities in the United Arab Emirates, Singapore and Kyrgyzstan.

The action marked International Anti-Corruption Day, the Treasury said.

Alongside the latest sanctions, the British government appointed a new 'Anti-Corruption Champion' to help coordinate efforts between parliament, the private sector and civil society to clamp down on all forms of corruption.

The role was given to Margaret Hodge, a former lawmaker in the Labour party who has spent much of her 30-year political career campaigning against domestic and international corruption. She is now a member of the House of Lords.

Britain will publish a new anti-corruption strategy in 2025.

(with inputs from Reuters)

More For You

India jewellery

The US accounts for nearly £7.6 billion, or 30.4 per cent, of India’s annual gems and jewellery exports.(Photo: Reuters)

Reuters

India’s jewellery exports face decline as US tariffs hit

INDIA’s £24 billion gems and jewellery industry is preparing for a sharp decline in exports as the US imposes a 26 per cent tariff on Indian goods.

Industry officials said this would significantly affect sales to the US, India’s largest jewellery market.

Keep ReadingShow less
ronnie screwvala

Ronnie Screwvala’s rise to billionaire status is an inspiring story of vision

Getty

Ronnie Screwvala: From toothbrush seller to Bollywood's lone billionaire

The 2025 edition of the Forbes Billionaire List was released on Wednesday morning, showcasing the world's wealthiest individuals. The list features 3,028 billionaires globally, including 205 from India. Among these is Bollywood's only billionaire, Ronnie Screwvala, a media mogul whose journey from manufacturing toothbrushes to becoming a leading entrepreneur is nothing short of remarkable. With a net worth of $1.5 billion, Screwvala has surpassed the combined fortunes of Bollywood’s biggest stars, including Shah Rukh Khan, Salman Khan, and Aamir Khan.

Bollywood’s wealthiest man

Ronnie Screwvala stands as the richest person from the Hindi film industry, with a fortune exceeding that of its biggest icons. According to Forbes, his net worth of $1.5 billion surpasses the combined wealth of Shah Rukh Khan ($770 million), Salman Khan ($390 million), and Aamir Khan ($220 million), whose total stands at $1.38 billion. Additionally, he eclipses other notable figures such as Gulshan Kumar (approximately $900 million) and Aditya Chopra ($800 million). His financial success is a testament to his entrepreneurial acumen and strategic investments in both entertainment and education sectors.

Keep ReadingShow less
Donald Trump

Trump announced a series of tariff increases targeting various nations, including key US allies such as the UK and the European Union.

Getty Images

Trump’s tariffs hit global markets, Starmer warns of 'economic impact'

The UK and other global economies reacted on Thursday to US president Donald Trump's newly imposed tariffs, with prime minister Keir Starmer warning of an “economic impact” from the 10 per cent levy on British exports.

Trump announced a series of tariff increases targeting various nations, including key US allies such as the UK and the European Union.

Keep ReadingShow less
Airbus bets on Indian supply
base to scale up production

Guillaume Faury

Airbus bets on Indian supply base to scale up production

AIRCRAFT maker Airbus plans to significantly ramp up its annual sourcing of components and services from India to reach $2 billion (£1.54bn) by 2030, its CEO Guillaume Faury has said.

Describing India as one of the most important markets for Airbus in terms of growth, Faury said the challenge for the aircraft maker is to support the speed of the growth of the aviation industry in India.

Keep ReadingShow less
nintendo switch 2

The new console aims to build upon the success of its predecessor while introducing fresh innovations

Getty

Nintendo unveils Switch 2 - A new era for hybrid gaming begins

After months of speculation and cryptic teaser campaigns, Nintendo has officially announced the highly anticipated successor to its bestselling hybrid console. The Nintendo Switch 2 is set to launch on 5 June, with a price tag of £395.99 for the base package and £429.99 for a bundle including Mario Kart World. With a range of hardware improvements, redesigned controllers, and an exciting lineup of games, the new console aims to build upon the success of its predecessor while introducing fresh innovations.

A Bigger, Sharper Display and 4K Support

One of the most noticeable upgrades in the Nintendo Switch 2 is its display. The console now features a larger 7.9-inch screen, boasting twice the pixel count of the original Switch and supporting full 1080p resolution. Additionally, the display is capable of up to 120 frames per second, ensuring smoother animations, while high dynamic range (HDR) enhances colour contrast for a richer visual experience. Despite these improvements, the Switch 2 maintains the same thickness as the original model, preserving its signature portable form factor.

Keep ReadingShow less