UK vows to confiscate £117m ex-gov Ibori’s loot

UK vows to confiscate £117m ex-gov Ibori’s loot

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A British prosecutor on Thursday launched a fresh attempt to confiscate millions of pounds stolen by a former governor of Delta State, James Ibori who was convicted of money laundering and graft in Britain.

FILE PHOTO: JAMES IBORI, FORMER GOVERNOR OF NIGERIA’S DELTA STATE, SPEAKS AFTER A COURT HEARING OUTSIDE THE ROYAL COURTS OF JUSTICE IN LONDON, BRITAIN, JANUARY 31, 2017.
REUTERS/ESTELLE SHIRBON/FILE PHOTO

About £117 million known proceeds of crime is being targeted but only a portion of the sum was likely to be recovered, according to Reuters.

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.

The case was a rare example of a prominent Nigerian politician being punished for his part in the endemic corruption that has blighted Africa’s most populous country for decades. Since then, several other Nigerian former state governors have been convicted in their own Country.

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

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.

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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.

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

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.

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.

His lifestyle during those years was a far cry from his modest beginnings in life. As a young man, he had worked as a shop assistant at a branch of the home improvements chain Wickes in London, where he was caught trying to steal from the store and was convicted of theft.

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Britain’s National Crime Agency estimates that around 1 billion pounds in dirty money moves into or through the United Kingdom every year. Ibori is one of the only ultimate beneficiaries of such practices to have been convicted.

The case is expected to last around four weeks.

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