EPRDF regime's self image of ethnically Balkanized Ethiopia, established by late Dictator Melese Zenawie. Freedom of Press is Dead in ethnocracy based irridentism. Fertile land is grabbed by foreign speculators, over 5 million are starving. 500'000 kids are on the streets. Millions are displaced by force. The regime is arming proxy warriors. Dams are built wantonly risking the existence of millions of indigenous people. Eritreans Moles are Ruling even after seceding in 1991.
Saturday, June 11, 2016
Ethiopia to pay U.S. fine over Hydro-electric dam bonds
State-owned Ethiopian Electric Power Corporation (EEPC) is going to pay close to $6.5m as a result of US charges that it incorrectly sold bonds to residents of the US to finance the Grand Ethiopian Renaissance Dam.
On 8 June, the United States Securities and Exchange Commission (SEC) announced that the EEPC violated securities laws by failing to register the bond offer, which raised about $5.8m from more than 3,100 people from 2011 to 2014.
Foreign governments are welcome to raise money in the US capital markets so long as they comply with the federal securities laws
Stephen L. Cohen, associate director of the SEC's division of enforcement, explained in a statement: "Foreign governments are welcome to raise money in the US capital markets so long as they comply with the federal securities laws, including registration provisions designed to ensure that investors receive important information about prospective investments."
He added that investors will get back all of their money plus interest.
The Grand Ethiopian Renaissance Dam (GERD) is expected to have the capacity to produce 6,000 megawatts of electricity making it Africa's biggest hydro-electric power station.