FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers TRADE AFRICA Election 2026 New TIME REMAINING UNTIL ETHIOPIA’S NATIONAL ELECTION 0Days 0Hours 0Minutes 0Seconds

Fortune Logo

Abinet Gebremesqel Released from Prison After Corruption Charges Dropped on Health Grounds

May 27 , 2024

Abinet Gebremesqel was released from Qality Prison, ending an eight-month detention period. Federal Prosecutors at the Corruption Crimes Investigation Unit dropped their charges against Abinet and four other co-defendents charged in connection with a 1,972Sqm plot leased by Bole Towers Plc in Woreda 2 of the Qirqos District, near Wello Sefer Roundabout.

Prosecutors had accused Abinet, an American citizen, of fraudulently transferring ownership of the property to Mullege Plc for 83 million Br. He held a 40pc stake in the property’s ownership on Africa Avenue (Bole Road), with Al-Amoudi holding the remaining 60pc. Initially, Abinet was held under custody at the Federal Crimes Investigation Bureau on Mozambique Street near Mexico Square before being transferred to to the Federal Prison Centre a.k.a Qality Prison.

The Unit’s Director General, Zelalem Fikadu, signed the letter dropping the charges, citing Abinet's "precarious health condition."

Once a close confidant of billionaire Mohammed Ali Al-Amoudi, Abinet had repeatedly requested hospital visits during court appearances over the past eight months. Judge Yonas Mengistu of the Federal High Court Lideta Criminal Bench, one of three judges presiding over the case, signed the release order.

Amare Ashenafi, a defense team of the 5A Legal firm defending Abinet, confirmed to Fortune his release in the afternoon today.

Put your comments here

N.B: A submit button will appear once you fill out all the required fields.



Related Posts

Share This Post
Linkedin
Google+


Most read

Latest News

Editor's pick

Commentaries

Ethiopia Can't Wait for the Market to Code Its Future

At a technology conference in Nairobi a few years ago, a product director at one of A...

Reclaiming Global Value Chains Amidst Hard Currency Headwinds

Exporters of fruit, vegetables, and herbs move some of the most perishable goods thro...

Fineline

Leaders of the National . . .

Leaders of the National Election Board are in a charm offensive mood, of a sort. Last week, they organised a rare tour for members of the me...

When the country’s most. . .

When the country's most senior diplomats and envoys return back to their posts after two-week debriefings, they leave behind a point or two...

Editorial

Logistics Reform Should Deliver More Than Market Entry by Foreign Capital

Jun 13 , 2026

The recent policy decision to fully open freight forwarding to foreign capital may be...

The Elections Offered Order at the Centre, Silence at the Edges

Jun 6 , 2026

For a political veteran as controversial as Getachew Reda, last week's national elect...

Mistaking Development Theatre for Public Trust Has a Cost

May 30 , 2026

Tomorrow, millions of Ethiopians are expected to vote in the seventh national electio...

Tax Push Tests How Much Pain Taxpayers Can Bear

May 23 , 2026

An International Monetary Fund (IMF) team has spent weeks in Addis Abeba conducting t...

Gallery

Parliament Approves New Cabinet Members

Oct 6 , 2021

Parliament Approves New Cabinet, Incorporates Opposition Leaders Lawmakers have approved today the nominations of 22 ministers, including three opposition leaders. Two MPs have voted against, while 12 abstained...

2020 in Posterity

Jan 5 , 2021

TIGRAY VOTES DESPITE "NULL & VOID" THREAT

Sep 9 , 2020

IN-PICTURE: LAUREATE'S RECEPTION  

Dec 14 , 2019

PM Abiy Ahmed (PhD) at a Gala Dinner Called for the Awarding of the Félix Houphouët-Boigny Peace Prize

May 6 , 2019

Faces, Voices of Addis Abeba

Apr 26 , 2019

Sunday With Eden

The Cost of a Culture That Doesn't Read

In Ethiopia, one of the most surprising statements heard in everyday conversation is...

A Journey of Survival, Forgiveness, Giving Back

Some stories arrive without fanfare, yet stay with us long after they are told. They...

Life Matters

The Things We Can't Control

Lately, two thoughts have occupied my mind. At first glance, they seem unrelated. One is about comebacks. The other is about how parents vie...

We Don't Need Cover Letters We Need Conversations

We live in an age that celebrates efficiency, automation and convenience, yet the modern job hunt remains...