Ayele Debela, a businessman who had been serving a 22-year sentence, having been convicted of a series of crimes to the national economy, was buried at the Holy Trinity cathedral on Tuesday, July 09, 2013. He passed away on Sunday, July 7.
Ayele was one of the 10 businessmen on whom the Ethiopian Revenues & Customs Authority (ERCA) cracked down on, in June 2009. This was after accusing them of money laundering, illegal banking and tax evasion. Judges at the Federal High Court, 11th Criminal Bench, found him guilty in May 2010, on charges of 10 counts. Subsequently, the following month, he was sentenced to a lengthy jail term.
Not only was he sentenced to serve 22 years in jail, judges ruled for his property, including shares with Nib International Bank, to be confiscated. They also subjected him to an additional fine of 130 millionBr.
Appeals were filed to the Supreme Court, both by ERCA’s prosecutors, who demanded the fine go as high as 450 million Br, and the defendant’s lawyer for the case to be dropped altogether.
Ayele is survived by his daughter, Hirut.
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