The Federal High Court 11th Criminal Bench handed out a 20-year prison term and a 165,000 birr fine to the owner of the Bereket Metal Products Factory Kebede Tesera on Monday, July 12, after he was found guilty of multiple charges.
According to the Ethiopian Revenue and Customs Authority (ERCA) Prosecutors, Kebede originally had one charge submitted to the court in 2008, but on October 28, 2009, the prosecutor revised it and included seven counts.
The prosecutor argued that Kebede committed usurery when he acted as a loan shark. In the Ethiopian Penal Code usury is illegal. According to the charge he illegally engaged in lending over 26 million birr with exorbitant interest. In Ethiopia only Banks and Financial institutions are allowed to provide loans with interest.  
The prosecutor argued he made huge profits from engaging in unlawful financial transactions and that he failed to pay tax on the money he made.  In addition to these two charges Kedebe was found guilty of five other counts.
The court ordered that the property of Kebede Tesera be seized. Accordingly, his building, under construction at Arat Kilo and 186 shares he owns at the Merchants Association building at Merkato will be confiscated.
Kebede also faces another 14 million birr civil lawsuit.
The defendant Kebede argued that he was unfairly treated by the Ethiopian Revenue and Customs Authority. He also said there was not sufficient evidence to convict him.  He has thirty days to appeal.