Stella Dimoko Korkus.com: UK Makes New Moves To Confiscate Former Governor Ibori’s £117m Assets

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Friday, January 17, 2020

UK Makes New Moves To Confiscate Former Governor Ibori’s £117m Assets

A British prosecutor launched a fresh attempt on Thursday to confiscate tens of millions of pounds stolen from an oil-producing state in Nigeria by its former governor, who was convicted of laundering his loot in Britain.







In 2013, a first attempt was made in Britain to confiscate his assets, but it was aborted after three weeks of hearings because of unresolved legal disputes.

Then the confiscation process was stalled for several years while Ibori and several of his associates, who had been convicted for their roles in laundering his money, appealed unsuccessfully against their convictions.

Restarting the process at Southwark on Thursday, prosecution counsel Jonathan Kinnear began listing assets that Britain seeks to confiscate from Ibori and return to Nigerian public funds.

The total value of the known proceeds of his crimes came to 117 million pounds ($153 million), he said. However, only a portion of that sum is likely to be recoverable.

During his time in office, Ibori, 57, amassed a portfolio of luxury properties in Nigeria, London, Washington, Houston and Johannesburg. He traveled all over the world, staying in the most expensive hotels and spending lavishly in luxury stores.


The case is expected to last around four weeks.


James Ibori, who was governor of Delta State from 1999 to 2007, pleaded guilty at London’s Southwark Crown Court in 2012 to 10 counts of fraud and money-laundering. He received a 13-year jail sentence.

He served half of his sentence in pre- and post-trial detention,and was released in December 2016 and is now back in Nigeria.
from pmnews

3 comments:

  1. Still on Ibori’s matter? E don do d term nau, make una let us hear word. No politician is a saint with money.

    ReplyDelete
  2. Apparently he used to work at wickes😂. My favourite building supplies store.

    ReplyDelete

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