Like Banks, Blackwater Boss Eric Prince Pays $42 in Fines & Walks – Into Africa Through China

As Western economies start to regress in earnest following decades of failed and destructive monetary inflation and debt accumulation, as we warned previously, yield-starved investors are allocating real capital to the one industrially untapped continent in the world: Africas . However, we’re not seeing industry moving to Africa to set up shop. Rather, politically-directed capital flowing into the African resources sector is fueling and financing the strongest consumer boom in the world. It’s a vendor financing model for Asia, and it portends a major boom and bust cycle for the African continental economy.

    Last November Prince sold a company to China that plans to build a pan-Africa provider of aviation, logistics, risk management, security services and exploration support services, needed by many Chinese businesses active in Africa. He received US$3 million plus the first batch of options.

Prince has logistics, aviation, manufacturing, resources and energy business interests in Africa, the Middle East and North America, and is the founder of Frontier Resource Group, a private equity firm active in African aviation, exploration, mining and logistics, DVN said.

He was also the founder of Blackwater, which he sold in 2010 and was renamed Xe Services and then Academi, after four years of federal investigation into allegations of sanctions violations, illegal exports and bribery against the firm and its staff. Blackwater was a security services firm that protected US officials in Iraq and Afghanistan.

The firm subsequently paid US$42 million in fines for hundreds of violations of US export rules, to avoid criminal charges,

http://www.blacklistednews.com/How_Erik_Prince,_Founder_Of_Blackwater,_Will_Help_China_Subjugate_Africa/32142/0/38/38/Y/M.html