Monday, April 16, 2012

MONEY LAUNDERING: Ibori may be sentenced to 10 years in Prison today.

London Court may today read the sentence of former Governor of Delta state, James Ibori, who was found guilty of money laundering and fraud.
Ibori had pleaded guilty to 10 counts of fraud, money laundering and corruption put at about $250m before Justice Anthony Pitts.
He faces up to 10 years in a UK prison and is coming barely a few days after his accomplice and financial advisor, Ghanaian-born Elias Preko, had been acquitted.
In a short submission, Southwark Crown Court  Prosecution Service lawyer, Sasha Wass, QC, had said the prosecution did not seek to go ahead with Ibori’s trial anymore because “Mr. Ibori has accepted the entirety of the prosecution’s case as it has always been set out.”
But the Economic and Financial Crimes Commission, which had expressed happiness with the confession of Ibori before the London court, had also indicated that the former governor would also be tried in Nigeria after serving his jail terms in UK.
The spokesperson for the EFCC, had said the commission had been vindicated that the ex-govenor had a case to answer.
He said, “The interesting aspect of the development in London is the fact that Ibori chickened out of a full blown fraud and money laundering trial by changing his plea.

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