Zimbabwe president's loyalists 'hide' diamond cash

HARARE, Zimbabwe — A group monitoring blood diamonds says profits from Zimbabwe's diamond fields are being stashed away by mining executives loyal to the authoritarian president.

Global Witness says in a report Wednesday that its investigations show unspecified diamond earnings are being hidden in the tax-free havens of Mauritius, Hong Kong and the British Virgin Islands.

They cited fears that the revenue will be used to finance violence and intimidation in proposed elections.

The group says diamond money is “desperately needed” to rebuild the shattered economy and not be used as an “off-budget cash cow” for loyalists of President Robert Mugabe.

Mugabe's mines ministry denies any wrongdoing in diamond fields that have been mired in allegations of corruption, killings and human rights violations.