Ex-Guinea Minister Nabbed in $8.5M Bribery Scheme

MANHATTAN, NY – Mahmoud Thiam, 50, a former Minister of Mines for the Republic of Guinea, is facing federal charges after being arrested in Manhattan this morning. Thiam is accused of laundering $8.5 million in bribes received from senior representatives of a Chinese conglomerate, a scheme allegedly designed to secure the company exclusive investment rights in Guinea’s lucrative mining sector.

The arrest, announced jointly by U.S. Attorney for the Southern District of New York Preet Bharara, Assistant Attorney General Leslie R. Caldwell, and FBI Assistant Director-in-Charge William F. Sweeney Jr., details a brazen attempt to conceal the illicit funds. According to court documents, Thiam used his official position to steer valuable investment rights toward the Chinese conglomerate in exchange for the massive bribe payments.

“Mahmoud Thiam, a former high-ranking official of Guinea, allegedly used his position to accept millions in bribes from a Chinese conglomerate and laundered the money through New York,” Bharara stated. “Thiam, a U.S. citizen, will now face justice.” The complaint unsealed today reveals Thiam opened a bank account in Hong Kong, falsely reporting his occupation to hide his role as a Guinean public official.

The $8.5 million in bribe proceeds were then allegedly funneled through a network of accounts – including those in the United States – and used to finance a lavish lifestyle. This included the $3,750,000 purchase of an estate in Dutchess County, New York, tuition at elite Manhattan preparatory schools for his children, and payments to at least one other West African public official. Thiam further attempted to disguise the source of the funds by lying to Manhattan banks and on his IRS tax returns.

Assistant Attorney General Caldwell was blunt: “Former Minister Thiam is accused of enriching himself at the expense of the people of the Republic of Guinea. We cannot allow the United States to be a safe haven for the spoils of official corruption.” FBI’s Sweeney added that the bureau, “along with our partners, is committed to investigating all levels of corruption,” vowing relentless pursuit of those who exploit markets for personal gain.

Thiam is charged with two counts of money laundering, each carrying a maximum sentence of 15 years in prison. He was presented before Magistrate Judge James C. Francis today. The case is a stark reminder that even high-ranking officials are not above the law, and that the U.S. Department of Justice will aggressively pursue international corruption schemes that utilize the American financial system.