Massive Somalia Gold Scandal – German Government Implicated

Dr. Abib’s investigation began as an outgrowth of  Somalia Parliament’s oversight of the Central Bank of Somalia.  Abib is a MP for Awdal state of Somalia. He soon discovered the truth of what whistleblowers in the numismatic community had long suspected, the Somalia bullion coinage marketed as legal tender was a complete fiction buttressed by bribes and corruption involving purported agents of the Somalia government.  In fact, the Central Bank of Somalia receives no revenue from the coinage and has no records of the thousands of ounces of gold purchased in its name each year.

According to the lawyer for SATO-USA, Dr. Jonathan Levy, the case may be one of the largest of its type and demonstrates that countries with weak civil institutions like Somalia are often are taken advantage of by supposedly “ethical” countries like Germany: “Dr. Abib has discovered that a German government mint has been producing vast quantities of gold, silver and metal coins under the name of Somalia.

The Somali government and its people have received nothing and there is no record at the Central Bank of the coinage program. While Somalia is often faulted for corruption, it seems that Germany is not immune from profiting at the expense of one of the poorest nations in Africa.”

Abib’s complaint further details that some of the coins produced were intended to humiliate Somalians, this includes a gold 2020 coin featuring Donald Trump  on the obverse and the Somalia national symbol on the reverse denominated in Somalia shillings by Commonwealth Mint. Several other coins depict Catholic Popes, saints, and religious symbols even though Somalia is under Shariah law.