Huyu Mhindi akamatwe mara moja na bank account na assets zake nyingine ziwe chini ya ulinzi mkali. Wasimwache akaingia mitini kama yule wa rada. Revealed: Dar tycoon linked to BoT scandal BOT Twintowers THISDAY REPORTER Dar es Salaam PROMINENT Dar es Salaam business tycoon Jayantkumar Chandubhai Patel, who is also known as Jeetu Patel, is linked to the embezzlement of billions of shillings from the Bank of Tanzania (BoT)s external payment arrears account, THISDAY can reveal today. Patel has been verified as the owner of one of the companies listed as beneficiaries of a total of over 133bn/- fraudulently paid out by the BoT from the EPA account in 2005. Investigations by THISDAY have established that Jeetu Patel owns Navycut Tobacco (T) Limited, one of 13 companies said to have received huge sums of money totalling more than 90.359bn/- using false and forged documents. Navycut Tobacco was identified in the BoT special audit report prepared by the international auditing firm Ernst & Young. The report said other companies paid by the BoT using forged documents included Kagoda Agriculture Limited, Maltan Mining Company Limited of Tanzania, Money Planners & Consultants, Bora Hotels & Apartment Limited, B.V. Holdings Limited, Ndovu Soaps Limited and Changanyikeni Residential Complex Limited. Also on the same list are Bencon International Limited of Tanzania, VB & Associates Company Limited of Tanzania, Bina Resorts Limited of Tanzania, Venus Hotel Limited of Tanzania and Njake Hotel & Tours Limited. Latest findings by THISDAY have revealed that Navycut Tobacco (T) Ltd was registered on October 11, 1995, with Jeetu Patel listed as the firm�s director based in Dar es Salaam. Being a leading member of the local business community, Patels array of business interests includes a hefty percentage of shares in the recently-launched Bank M (Tanzania) Limited, via another company he is linked to - Noble Azania Investments. According to available records, he was one of the main investors in the banks initial listed share capital of 6.5bn/-, pumping in 1.3bn/-. Bank M (Tanzania) was authorized as a fully-fledged commercial bank in February last year, with an authorized share capital of 10bn/- and a paid-up capital of 6.5bn/-. Efforts to contact Jeetu Patel yesterday for his comments on the BoT special audit report � which has already prompted President Jakaya Kikwete to formally fire the long-serving central bank governor Daudi Ballali � proved unsuccessful yesterday. Apart from dismissing Ballali, the president has also ordered a serious crackdown on all individuals and companies involved in the monumental scam, including the institution of appropriate legal measures against them and the recovery of all the money siphoned from the EPA account in such fraudulent fashion. The crackdown will be led by the Attorney General, Johnson Mwanyika, working in tandem with the Inspector General of Police, Saidi Mwema, and the director of the Prevention and Combating of Corruption Bureau (PCCB), Edward Hosea. They have been given six months to complete the job. When announcing the special audit findings earlier this week, State House Chief Secretary Philemon Luhanjo told a news conference that the stated 13 companies were part of a bigger list of 22 companies that were the recipients of a total of 133,015,186,220.74/- from the central banks EPA account during 2005/06. Luhanjo said auditors Ernst & Young had discovered that these companies acted as illegal agents for external creditors collecting debts through the account. According to our own government sources, most of the firms identified in the audit report are understood to be shell (shadow) companies, which typically have no physical presence (other than a mailing address) and generate little independent economic value. The shell companies usually pay little taxes or no taxes at all, and have virtually no traceable assets.