Somalia Piracy Leads to Economic Development
The fruits of Somali piracy are benefitting more than a handful of criminals—they’re being shared with the greater community, a new report based on satellite imagery has found.
French luxury boat Le Ponant was hijacked by Somali Pirates in April 2008. About $200,000 in suspected ransom money was recovered after French Special Forces freed the ship. Because pirates tend to invest the spoils of their hijackings in local communities, a new report by Chatham House advises this needs to be taken into account in any anti-piracy strategy. AFP/Getty Images
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