Somalian leader Hassan Sheikh has allegedly stashed $260 million into offshore Swiss bank accounts, a move that has drawn the scrutiny of U.S. and European anti-money laundering agencies. The funds have been frozen under suspicion of being misappropriated.
The money, originally intended as budget support and U.S. aid to sustain the fragile Somalian regime, has reportedly been siphoned off in what appears to be yet another act of brazen theft.
Somalia’s current administration stands as a stark testament to rampant corruption, with Transparency International’s latest report ranking it as the most corrupt regime globally—a position it has consistently held for the past decade.
The cycle of greed and impunity continues to cripple the nation’s already precarious existence.