Connect with us

Headline

Australia Scraps Special Visa Scheme Designed For Wealthy Investors

Published

on

The Australian government has discontinued the “golden visa” programme, which allowed wealthy investors across the globe the right to live in the country.

According to BBC, Australia ended the special visa programme designed to attract foreign business, for “delivering poor economic outcomes”.

It had earlier been reported that critics argued that the scheme was being used by “corrupt officials” to “park illicit funds”.

Advertisement

The scheme which was craved out from an immigration system would be replaced with more skilled-worker visas.

Thousands of significant investor visas (SIV) have been granted through the program since 2012, with 85% of successful applicants coming from China according to government data.

READ ALSO: Police Raid Criminals’ Hideout In Enugu, Arrest 3, Recover Firearms

Advertisement

Marketed as a way to drive foreign investment and stoke innovation, candidates had to invest more than A$5m (£2.6m;$3.3m) in Australia to be eligible.

After multiple reviews, the government found that the scheme had failed to meet its core objectives. In a policy document from December, it announced that it would scrap it, focusing instead on creating more visas for “skilled migrants” capable “of making outsized contributions to Australia”.

It has been obvious for years that this visa is not delivering what our country and economy needs,” Minister for Home Affairs Clare O’Neil said in a statement on Monday.

Advertisement

The move has been welcomed by Clancy Moore, the chief executive of Transparency International Australia, who told the BBC: “For far too long corrupt officials and kleptocrats have used golden visas as a vehicle to park their illicit funds in Australia and arguably hide their proceeds of crime.”

READ ALSO: Video: How Four Nigerian Caregivers Abused 89-year-old Grandma in UK

The program had already come under intense scrutiny for its alleged “loopholes” and “vulnerabilities”. Bill Browder, who is widely credited as being responsible for the creation of the Magnitsky Act – a US law designed to target individuals for abuses committed overseas, has also criticised the scheme.

Advertisement

In 2016, a government inquiry raised concerns that it had the “potential for money laundering and other nefarious activities”, while in 2022 The Australian newspaper reported that members of Cambodia’s Hun Sen regime were among the bad actors who had exploited the system.

The government inquiry also found that the visas were bringing people into Australia with “less business acumen” than would have otherwise arrived, while offering tax concessions that were costing the public.

READ ALSO: Hamas Chief Holds Talks With Turkish Foreign Minister

Advertisement

Some asset managers have pushed back on those assessments, arguing that the follow-on investment from SIVs has ended up being significantly more than the A$5m buy in.

Australia now joins the UK, which scrapped a scheme offering fast-track residency to the mega rich in 2022, due to concerns about the inflow of illicit Russian money.

So-called golden visa schemes have also come under scrutiny in Malta, which has been granting speedy citizenship to wealthy non-European Union nationals.

Advertisement

In 2022, an investigation discovered the visas being granted after people spent just days in the island nation, while the EU had raised concern over risks of money laundering, tax evasion and corruption.

BBC

 

Advertisement

Headline

South Korea, Japan Protest China, Russia Aircraft Incursions

Published

on

South Korea and Japan reacted furiously on Wednesday after Chinese and Russian military aircraft conducted joint patrols around the two countries, with both Seoul and Tokyo scrambling jets.

South Korea said it had protested with representatives of China and Russia, while Japan said it had conveyed its “serious concerns” over national security.

According to Tokyo, two Russian Tu-95 nuclear-capable bombers on Tuesday flew from the Sea of Japan to rendezvous with two Chinese H-6 bombers in the East China Sea, then conducted a joint flight around the country.

Advertisement

The incident comes as Japan is locked in a dispute with China over comments Prime Minister Sanae Takaichi made about Taiwan.

READ ALSO:China Backs Nigeria, Warns Against Foreign Interference

The bombers’ joint flights were “clearly intended as a show of force against our nation, Defence Minister Shinjiro Koizumi wrote on X Wednesday.

Advertisement

Top government spokesman Minoru Kihara said that Tokyo had “conveyed to both China and Russia our serious concerns over our national security through diplomatic channels”.

Seoul said Tuesday the Russian and Chinese warplanes entered its air defence zone and that a complaint had been lodged with the defence attaches of both countries in the South Korean capital.

Our military will continue to respond actively to the activities of neighbouring countries’ aircraft within the KADIZ in compliance with international law,” said Lee Kwang-suk, director general of the International Policy Bureau at Seoul’s defence ministry, referring to the Korea Air Defence Identification Zone.

Advertisement

READ ALSO:Trial For South Korean Woman Accused Of ‘Suitcase Murders’ Starts Today

South Korea also said it deployed “fighter jets to take tactical measures in preparation for any contingencies” in response to the Chinese and Russian incursion into the KADIZ.

The planes were spotted before they entered the air defence identification zone, defined as a broader area in which countries police aircraft for security reasons but which does not constitute their airspace.

Advertisement

Japan’s defence ministry also scrambled fighter jets to intercept the warplanes.

Beijing later Tuesday confirmed it had organised drills with Russia’s military according to “annual cooperation plans”.

READ ALSO:South Korean Actress Kim Sae-ron Found Dead In Seoul Apartment

Advertisement

Moscow also described it as a routine exercise, saying it lasted eight hours and that some foreign fighter jets followed the Russian and Chinese aircraft.

Since 2019, China and Russia have regularly flown military aircraft into South Korea’s air defence zone without prior notice, citing joint exercises.

In November last year, Seoul scrambled jets as five Chinese and six Russian military planes flew through its air defence zone.

Advertisement

Similar incidents occurred in June and December 2023, and in May and November 2022.

READ ALSO:Russia Insists Ukraine Must Cede Land Or Face Continued Military Push

Meanwhile, Tokyo said Monday it had scrambled jets in response to repeated takeoff and landing exercises involving fighter jets and military helicopters from China’s Liaoning aircraft carrier as it cruised in international waters near Japan.

Advertisement

It also summoned Beijing’s ambassador after military aircraft from the Liaoning locked radar onto Japanese jets, the latest incident in the row ignited by Takaichi’s comments backing Taiwan.

Takaichi suggested last month that Japan would intervene militarily in any Chinese attack on the self-ruled island, which Beijing claims as its own and has not ruled out seizing by force.

AFP

Advertisement
Continue Reading

Headline

Thousands Reported To Have Fled DR Congo Fighting As M23 Closes On Key City

Published

on

Fierce fighting rocked the eastern Democratic Republic of Congo on Tuesday as the Rwanda-backed M23 militia rapidly advanced towards the strategic city of Uvira, with tens of thousands of people fleeing over the nearby border into Burundi, sources said.

The armed group and its Rwandan allies were just a few kilometres (miles) north of Uvira, security and military sources told AFP.

The renewed violence undermined a peace agreement brokered by US President Donald Trump that Kinshasa and Kigali signed less than a week ago, on December 4.

Advertisement

Trump had boasted that the Rwanda-DRC conflict was one of eight he has ended since returning to power in America in January.

READ ALSO:Ambassadorial Nominees: Ndume Asks Tinubu To Withdraw List

With the new fighting, more than 30,000 people have fled the area around Uvira for Burundi in the space of a week, a UN source and a Burundian administrative source told AFP.

Advertisement

The Burundian source told AFP on condition of anonymity he had recorded more than 8,000 daily arrivals over the past two days, and 30,000 arrivals in one week. A source in the UN refugee agency confirmed the figure.

The Rwanda-backed M23 offensive comes nearly a year after the group seized control of Goma and Bukavu, the two largest cities in eastern DRC, a strategic region rich in natural resources and plagued by conflict for 30 years.

Local people described a state of growing panic as bombardments struck the hills above Uvira, a city of several hundred thousand residents.

Advertisement

Three bombs have just exploded in the hills. It’s every man for himself,” said one resident reached by telephone.

READ ALSO:South Africa Beat DR Congo In shootout To Finish Third At AFCON

We are all under the beds in Uvira — that’s the reality,” another resident said, while a representative of civil society who would not give their name described fighting on the city’s outskirts.

Advertisement

Fighting was also reported in Runingo, another small locality some 20 kilometres (12 miles) from Uvira, as the M23 and the Rwandan army closed in.

Burundi views the prospect of Uvira falling to Rwanda-backed forces as an existential threat, given that it sits across Lake Tanganyika from Burundi’s economic capital Bujumbura.

The city is the main sizeable locality in the area yet to fall to the M23 and its capture would essentially cut off the zone from DRC control.

Advertisement

READ ALSO:Stampede Kills 37 During Army Recruitment In Congo Capital

Burundi deployed about 10,000 soldiers to eastern DRC in October 2023 as part of a military cooperation agreement, and security sources say reinforcements have since taken that presence to around 18,000 men.

The M23 and Rwandan forces launched their Uvira offensive on December 1.

Advertisement

Rich in natural resources, eastern DRC has been choked by successive conflicts for around three decades.

Violence in the region intensified early this year when M23 fighters seized the key eastern city of Goma in January, followed by Bukavu, capital of South Kivu province, a few weeks later.

– Regional risk –

Advertisement

The peace deal meant to quell the fighting was signed last Thursday in Washington by Congolese President Felix Tshisekedi and his Rwandan counterpart Paul Kagame, with Trump — who called it a “miracle” deal — also putting his signature to it.

READ ALSO:FULL LIST: US To Review Green Cards From 19 ‘Countries Of Concern’ After Washington Shooting

The agreement includes an economic component intended to secure US supplies of critical minerals present in the region, as America seeks to challenge China’s dominance in the sector.

Advertisement

But even on the day of the signing, intense fighting took place in South Kivu, where Uvira is located, which included the bombing of houses and schools.

Witnesses and military sources in Uvira said that Congolese soldiers fleeing the fighting had arrived in the city overnight Monday and shops were looted at dawn.

Several hundred Congolese and Burundian soldiers had already fled to Burundi on Monday, according to military sources, since the M23 fighters embarked on their latest offensive from Kamanyola, some 70 kilometres north of Uvira.
Since the M23’s lightning offensive early this year, the front had largely stabilised over the past nine months.

Advertisement

Burundian President Evariste Ndayishimiye warned in February there was a danger of the conflict escalating into a broader regional war, a fear echoed by the United Nations.

Continue Reading

Headline

‘Santa Claus’ Arrested For Possessing, Distributing Child Sexual Abuse Material

Published

on

A 64-year-old man from Hamilton Township has been arrested in the United States after investigators linked him to the possession and distribution of child sexual abuse material.

The suspect, identified as Mark Paulino, had been working as a “Santa for hire” at holiday events, a role that placed him in repeated contact with children.

Mercer County officials said the investigation began on 4 December when detectives were alerted to suspicious online activity involving the uploading of child pornography from a residence in Hamilton Township. The probe quickly identified Paulino, a retired elementary school teacher, as the person involved.

Advertisement

READ ALSO:Nigerian Ringleader Of Nationwide Bank Fraud, Money Laundering Jailed In US, Says FBI

Police stated that Paulino had presented himself online as a retired teacher and had recently performed as Santa Claus for photographs and private, corporate, and organisational events. “Because this role involved direct, repeated contact with children, detectives worked around the clock to secure a search warrant,” authorities explained.

The warrant was executed on 5 December, during which police seized multiple items regarded as evidentiary. Paulino was taken into custody without incident and charged with possession and distribution of child sexual abuse materials, as well as endangering the welfare of a child.

Advertisement

Prosecutors have filed a motion to detain him pending trial. The investigation remains ongoing, and authorities have urged members of the public with relevant information to come forward.

Continue Reading

Trending