By Website writer
City tycoon Abraham Luzzi, famously known as “Mr Economy” is in cloud nine after a court in Dubai dropped charges against him for smuggling gold.
Luzzi, 35, the CEO of Ssebo International Group and President of the African Business Council was last year arrested and jailed in a Dubai prison for months after authorities intercepted ahis consignment of gold destined for Switzerland.
He was accused of smuggling gold after his papers were found wanting. Luzzi was jailed on January 15 2017 in the Al Awir Central Jail, where S.K Mbuga is presently jailed. He got momentary reprieve on July 24 2017 when he was released from jail as investigations into the case continued.
He is now eyeing a hefty compensation for wrongful arrest and paralysis of his business. Luzzi was extremely relieved when talking to press on Friday
“Allah Is Great. I was cleared of all charges and I am very happy. Court ordered that my gold consignment measuring 1.5 tonnes be returned to me. My frozen bank accounts in Dubai which had over 15m Dirhams were also cleared. I was also given back my trading licence, which permits me to deal in gold and other precious minerals,” Luzzi beamed.
He reveals that he was taking the gold to Switzerland but was intercepted in Dubai under claims that his consignment was missing some vital tax papers.
“We get most of the gold from DR Congo and transporting it is a tedious process. We pay a lot of taxes and also need documentation from organizations like the United Nations (UN) and other authorities from tax Dubai, which is not easy,” he said.
Luzzi says that thorough investigations were carried out in Dubai to prove that the gold wasn’t plundered in Congo and also to determine whether it wasn’t procured from rebel controlled areas in DRC, which he was selling to fund their rebellion.
“Following my stint in jail, my contacts in Switzerland thought I had short-changed them but all explanations fell on deaf ears. I think my brother S.K Mbuga is a victim to such bureaucracy,” he said.