Ermias Amelga behind bars

ESAT News (January 12, 2016)

Reports reaching from Addis Ababa say Ermias Amelga, a prominent businessman, has been put behind bars. Ermias was the founder of the controversial Access Real Estate and Zemen Bank.

Ermias was in exile for two years following charges and allegations of financial mismanagement by shareholders and investors of Access Real Estate, which was engaged in the construction of real estates and residential buildings. The government later formed a committee to oversee the matter and Ermias was swayed to go back home and conduct business as usual.

In February 2015, Ermias went back to Ethiopia from Dubai, where he stayed the last two years, following guarantees by the government that he would not face any legal actions, according to reports.

The government media reported that Ermias was put under custody on matters related to Access Real Estate but did not give details of his crimes. In August, Ermias was removed from his post as chairperson of the board and was replaced by Mebrat Woldetinsay, a shareholder.

Ermias is also known for pioneering the production of bottled water in Ethiopia.