Real Pirates! Weekly Piracy Report!

[News Crew]

The BBC has an interesting article up about what is happening to all that ransom money Somali pirates have been plundering from shipping companies the last couple of years. The pirates themselves are not the ones getting rich of these million dollar cash payments. Where big money is being made, one thing is sure to follow...  Piracy off the coast of Somalia has made many people very rich.  A new economy has developed both within Somalia and further afield, as security companies, lawyers and negotiators reap huge profits from their involvement.  But finding out what happens to the money delivered as ransom payments is doubly difficult, first because piracy is a transnational crime, and second because Somalia is a country without rules, regulations or a functioning government.  There have been various reports that piracy in Somalia is attracting big-time criminals from all over the world; that it is being orchestrated from London; that the ship owners themselves are involved.  You can read the rest of the BBC story HERE. (http://news.bbc.co.uk/2/hi/africa/8061535.stm) Read on for this weeks Weekly Piracy Report!
Read more... (http://piratesahoy.net/history/real-pirates/367-real-pirates-weekly-piracy-report.html)

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