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N3.2bn scam: Court orders EFCC to seize Igbinedion’s properties

Posted by 9jabook.com on March 3, 2011 at 3:31am
N3.2bn scam: Court orders EFCC to seize Igbinedion’s properties News Thursday, March 3, 2011 BY EMMA OVUAKPORIE ABUJA-The Economic and Financial Crimes Commission, EFCC, yesterday got an asset forfeiture order from a Federal High Court, Lagos, to seize properties of former Edo State governor, Chief Lucky Igbinedion, over an alleged N3.2billion scam. advertisement The anti-graft agency got the order to seize all properties traced to Chief Igbinendion in Benin, Lagos, Abuja and London (11 choice properties) over fresh money laundering case filed against him. This followed an earlier order issued by Justice Adamu Hobon of the Federal High Court, Benin City, Edo State, who on February 8 directed that the former governor and six other accused be present in court on the next adjourned date, failing which he might be forced to issue a bench warrant for their arrest. The embattled former number one citizen of Edo State may lose 11 choice properties located in prime areas of Lagos, Abuja, Benin City and London.... The former governor, who had been previously convicted by a Federal High Court in Enugu in 2008, where he was fined N3.5 million on a one-count charge, after an initial 191 count charge of fraud, theft, embezzlement and money laundering was amended, was declared wanted by the commission, following fresh discoveries that he allegedly diverted Edo State government's Afribank shares valued at $6.2 million (N961million) and Access Bank Plc shares valued at $775, 000 (N120m) into his private pockets.
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