The Ministry of Justice of Benin has issued an international arrest warrant targeting Yérim Sow, a Senegalese businessman, and his collaborator Yigo Faly Thiam. According to the official website of the Ministry of Justice and Legislation of Benin, consulted by Senegothe two men are among the most wanted people in the country, occupying the third and second positions respectively on this list.
Sentenced by the Cotonou Court of First Instance on December 23, 2021, Yérim Sow and Yigo Faly Thiam were found guilty of fraud, fraudulent overvaluation of contributions in kind and failure to prepare financial statements. The sentence handed down includes five years in prison, including two years in prison.
Context of the dispute:
In 2012, the Teyliom group obtained a 99-year long lease on a two-hectare plot of land in Cotonou to build a luxury hotel, with a planned investment of 10 billion CFA francs and a completion time of 30 months.
The Beninese authorities criticized Teyliom for significant delays in the execution of the project, non-payment of annual royalties (only one payment having been made), and the transfer of the lease to another entity without prior authorization.
As a result, in February 2020, the Beninese state terminated the lease, evicted Teyliom from the site and proceeded with the demolition of the hotel, then approximately 90% complete.
In response, Yérim Sow initiated international arbitration proceedings to challenge the expropriation and demolition of his hotel project.
Senegal
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