Nicolae Bogdan Buzaianu, once a central figure in Gambia’s illicit rosewood trade, continues to operate a vast network of interconnected businesses across Europe and Africa, strategically structured to conceal his involvement. Recent reports reveal his efforts to extend influence into Africa, further solidifying his reputation as a resource exploiter and manipulator of financial systems. Despite extensive evidence of malfeasance, he remains untouched by significant legal repercussions, allowing his intricate empire to evolve and adapt.
Cyprus Hubs of Activity
Buzaianu Resources Ltd, previously directed by Nicolae Bogdan Buzaianu and his brother Constantin Mihail Buzaianu, is now in the process of liquidation. Another company, Buzaianu Resources & Mining Limited, is also inactive. Despite their non-operational status, both entities, as well as another Cyprus company Inasco Limited and UK-based energy company Medrose Limite, share connections with JOKA Secretarial Limited, a firm linked to Gianoulla Georgiou (Γιανουλλα Γεωργιου), who has acted as a director in 170 companies. Many of these entities, active and dissolved, operate from the same addresses in Cyprus (Margarita House, 15 Them. Dervis Street, 1066 Nicosia, and 13 Agiou Prokopiou St., 2406 Engomi), suggesting a pattern of mass-founded firms. Furthermore, JOKA Secretarial Limited is listed in the ICIJ Offshore Leaks database, which connects it to various offshore financial activities and highlights its role in facilitating the establishment of shell companies. This connection raises red flags about the authenticity of these businesses, a common tactic to evade taxes and obscure financial activities. This network provides a plausible mechanism through which Buzaianu could continue to engage in illicit operations, leveraging JOKA Secretarial Limited’s infrastructure to create layers of separation and anonymity, shielding his activities from scrutiny. The connection highlights an enduring framework that may facilitate ongoing financial manipulation despite the apparent inactivity of his previously central companies.
Previously mentioned Inasco Limited, a Cypriot company founded by Buzaianu in 2009, is registered as the owner of a villa in the French commune of Beaulieu-sur-Mer. The property is located at 2 Boulevard Gordon Bennett, with taxable income for the municipal share totaling 53,479 euros. The villa has been reportedly associated with visits by Buzaianu and his relatives. The management of the property is overseen by INTERNATIONAL FIDUCIARY CONSULTANTS, a company based at 4 Avenue Georges Clemenceau in Nice.
Swiss Hubs of Activity
Switzerland remains a key operational base for Buzaianu. Several active Swiss companies linked to him continue to operate from a shared address at Rue Saint-Pierre 6, Fribourg, serving as a hub for his business ventures: SI Zamberg SA and Selectra AG, originally incorporated as Energy Consult SA ECSA. The latter one, according to Romanian court records, was a leading supplier of services to Energy Holding that was charged with tax evasion and money laundering in 2016. Another company—SI Valclair SA—also plays a key role. In 2021, as part of its operational update, Maria-Callas Buzaianu, Nicolae’s wife, assumed a directorship role. Her involvement underscores the familial element in Buzaianu’s schemes, with close relatives strategically positioned to maintain control while dispersing legal accountability.
The Nakhleh Connection
Gabriel and Marie Nakhleh emerge as central figures in managing Buzaianu’s hospitality and real estate ventures. Gabriel’s experience includes representing BP Investment Group during Gambia’s rosewood trafficking and overseeing operations for Westwood. Currently, he directs high-value real estate firms such as SCI DAAD, which specializes in property leasing in Villefranche-sur-Mer, and N&V Invest, focused on land rentals in France. Marie complements this by leading SCI OF THE CHAUME, a civil real estate company, and CHAUME HOSPITALITY, which specializes in hotel management. The latter one shares a consolidated base with SCI DAAD (322 Chem. du Lazaret, Villefranche-sur-Mer), reinforcing the centralized nature of their ventures. Their involvement underscores a strategic delegation of control within Buzaianu’s network, ensuring continuity while minimizing direct legal exposure.
Rosewood Trafficking in Gambia
Westwood Gambia Ltd, incorporated in 2014, played a key role in Gambia’s illicit rosewood trade. Jointly owned by Kanilai Family Farms (KFF)—a venture tied to former President Yahya Jammeh—and BP Investment Group FZE (Dubai-registered entity), the company was chaired by Nicolae Buzaianu. From June 2014 to March 2017, it reportedly exported over 315,000 tons of Pterocarpus erinaceus to China, generating an estimated USD 163 million.
Two other companies—West Port Logistics and Mineral Company of the Gambia Ltd—shared the same ownership structure (50% KFF and 50% BP Investment Group). West Port managed a lucrative port scanning concession, while the Mineral Company, ostensibly for resource exploration, never became operational, suggesting its primary function was financial manipulation.
BP Investment Group, chaired by Buzaianu, controlled 95% of its shares and extended its influence into hospitality by securing leases for the Ocean Bay and Sun Beach hotels through executive directives from Jammeh. Together, these interconnected companies formed a web facilitating corruption and resource misappropriation.
Although the 2022 CITES regional ban on rosewood trade sought to curb trafficking, evidence suggests that smuggling continues unabated. Traffickers have adapted by forging new routes and exploiting gaps in enforcement mechanisms. In September 2023, for example, Chinese import data indicated a 43% increase in rosewood imports from the Gambia compared to the previous year.
While Jammeh fled to Equatorial Guinea after his ouster, and Buzaianu faces accusations of crimes related to the exploitation of Senegalese resources, neither has faced meaningful legal consequences. The lack of accountability highlights a broader pattern of impunity for high-profile individuals involved in natural resource pillage.
General Turbo SA
Some reports outline fraudulent practices at General Turbo SA, a Romanian company specialized in the manufacture of engines and headquartered in Bucharest, under the leadership of Florin Nuta and major shareholder Bogdan Buzaianu. Nuta misused company funds, including a 40,000 RON sponsorship to support Traian Basescu’s 2009 election campaign under the Democratic-Liberal Party (PDL), despite the company’s financial distress. This led to political favoritism, with Nuta’s firm, SC Socend Ind SA, receiving unbid state contracts through questionable connections. Buzaianu, despite being the majority shareholder, appeared complicit through negligence, allowing Nuta to dominate operations. The sponsorship for Basescu’s campaign, although executed through Buzaianu’s company, highlights a pattern of influence-peddling and financial malpractice within General Turbo SA.
Dragos Buzaianu, a Bogdan’s nephew, has been associated with various ventures, including the controversial rosewood trade. He was one of the two initial directors of Westwood Gambia, alongside Naklaeh. In 2014, Dragos registered an offshore company in the Republic of Panama. Recently, Dragos was appointed general manager of General Turbo SA, as noted in media reports. In 2023, the company reported a turnover of RON 72,113,145 and a net loss of RON 21,469,801, reflecting a 7.8% decline in turnover compared to the previous year.
Expanding Operations and Patterns of Evasion
Recent reports from Africa Intelligence shed light on Nicolae Bogdan’s expanding business ventures in the Central African Republic (CAR). The Swiss-Romanian businessman, is now focusing on CAR’s lucrative gold sector. Buzaianu has held multiple meetings with President Faustin-Archange Touadera, discussing plans to either acquire or establish a gold foundry in the country. This development underscores his ambition to capitalize on CAR’s vast natural resources, potentially strengthening his foothold in Africa.
President Faustin-Archange Touadera
Despite mounting evidence of financial crimes, resource exploitation, and environmental damage, Buzaianu has largely evaded prosecution. High-profile associates, such as Yahya Jammeh, remain in exile, while other collaborators have faced legal consequences. For instance, in Romania, political figures connected to the Energy Holding scandal in 2006-2012, including Ex-Minister of Regional Development and Tourism Elena Udrea and former Romanian Economy Minister Codrut Seres, have been convicted, yet Buzaianu remains free. His denial of involvement in Energy Holding since 2005, despite overwhelming evidence, exemplifies his ability to deflect accountability.
Conclusion
Nicolae Bogdan Buzaianu represents a case study in systemic exploitation, financial obfuscation, and the limits of legal enforcement. From Gambia’s rosewood trafficking to Romania’s energy sector and now Central Africa’s gold industry, his operations reveal a consistent pattern of leveraging proxies, political connections, and opaque corporate structures to amass wealth while avoiding repercussions. Yet, the continued silence from France and Switzerland—despite the efforts of NGOs, media exposés, and mounting evidence—underscores a troubling reluctance within their legal frameworks to challenge powerful networks, shifting focus to politically convenient targets instead of fulfilling the check-and-balance role that justice systems are meant to uphold.
If you have any information about Buzaianu or the companies associated with him, please contact us at [email protected]. Your input could greatly assist our ongoing investigation, which is far from over.
Our thanks go to the team at AssetTracing.com for their assistance in preparing this investigation