Ibori Has Hidden Assets In OANDO Plc, Says London Prosecutors At Confiscation Hearing

By SaharaReporters, New York

The Southwark Crown Court in London heard today that the jailed former governor of Delta State, James Ibori, hid some of his assets in Oando, the wealthy Nigerian oil firm, and that funds were moved from the company's accounts into Ibori's Swiss accounts.

The court room was turbo-charged as prosecutors began a confiscation hearing to determine the amount of assets owned by the former governor.  It was packed with journalists and some of Ibori's relatives, including his sister, Christie Ibie-Ibori, but Ibori himself was not in attendance.  

It would be recalled that Ibori was jailed for 13 years in 2012 in the United Kingdom following his conviction on fraud and money-laundering charges.  
During the three-week confiscation hearing, prosecutors will detail Ibori’s assets before the court with the aim of having them seized.  

In early procedural skirmishes, lawyers on both sides tussled over whether Ibori should or should not have been in court, with the judge expressing surprise the former governor did not want to attend his own confiscation case.  

Ibori’s lawyers held that he is not obliged to be in court and that he does not even have to inform the court.  Furthermore, Ibori merely wants to watch the court proceedings from his prison.

Prosecutor Sasha Wass said today she will present evidence of Ibori owning a significant part of Oando.

"The Crown will assert that Oando is a company where James Ibori has hidden assets," she told the court, suggesting that the prosecution has fully traced Ibori’s widespread dispersal of his fortune.

The prosecution also said it would also be relying on Ibori’s admittance of guilt, stressing that the former governor contested NONE of the Crown’s case or its assertion that he stole from his people.

The prosecution is insisting that this is a straight forward matter despite the tactics of the defence.   Although a lot of money is involved, the prosecution underlines that Ibori did admit to the crime, and that the judge should not be distracted by the Ibori tactics as he admitted to defrauding Delta State on all counts.  

The introduction of Oando is an important new element in this case and will raise tremendous new interest in Nigeria because of the high profile and deep pockets of the company, as well as the political interests involved.   Although
the company is not a party to the case, it was represented in court by British lawyer Andrew Baillie.  

During Ibori’s sentencing last year, Judge Anthony Pitts said the 50 million pounds that the ex-governor had admitted to stealing may be a "ludicrously low" fraction of his total haul.  That total, it was suggested, could be more than 200 million pounds.

Prosecutor Wass has also indicated that Nuhu Ribadu, ex-boss of Nigeria's Economic and Financial Crimes Commission (EFCC), would testify during the hearing. To underscore the depth of the corruption challenge in Nigeria, Ribadu has said in the past week that there are far more heinous criminals walking the streets of Nigeria.  

The former EFCC boss has also said that Ibori tried to stop an EFCC investigation into his affairs in 2007 by offering him a bribe of $15 million in cash.  

 

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business man

i am mr kenneth obire from delta state nigeria, chief jame ibori is not a tight , chief jame ibori is the governor that change nigeria development in the country now the government has change to a bad government in the country nigeria now not good road , i kenneth obire are need chief jame ibori back to is country nigeria for good government in the country

yes.Bola Tinubu,former

yes.Bola Tinubu,former governor of Lagos own the company.Jubril Adewole Tinubu is Bola Tinubus brother or relative.He is a front for Bola Tinubu.The thief who wants to become vice president of Nigeria with Buhari as the president.

WHY DO AFRICANS, ESPECIALLY NIGERIANS, BEHAVE STUPIDLY

Tinubu, Ibori, Ribadu, Madueke, Fashola , Odili, Abacha, etc etc all priviledged by stealing and just like Obiang and other African thieves, only value themselves if they send stolen money to the west.

All African thieves  want to drink single malt whiskey, wear foreign clothes and send their kids to the west to become decadent and it is not suprising to see why Africa, and Nigeria especially, has become a laughing stock.

Nigeria is a country that never ceases to get worse and yet its people remain deluded that they are better than HELL..

There is no point talking about the joke of the country called Nigeria, for its rulers are only interested in sex, alcohol and looting and what a nightmare place to live in, if  blessed with morals and decency. To flourish in Nigeria, you must be a psychopath or at least, a prostitute, a liar or a conman,

This revelation in a London

This revelation in a London court is only a tip of the iceberg. Oandaka, former attorney general, Farida Waziri - former EFCC boss, Emmanuel Uduaghan, governor of Delta state and others are all waiting in the wings and setting up traps with stolen money to consume Jonathan even as he battles their cats-paw inside government. The political implications bear directly on Jonathan's immediate and long term survival calculations. Jonathan cannot make out that Uduaghan is in government all the time to keep watch over Ibori's nefarious interests. Nuhu Ribadu has championed this case to clear his reputation before the international community. If Jonathan does not finish Ibori and Uduaghan completely before the elections in 2015 then he should prepared to face their killer squad when he leaves office.

Ndi Oshi (Theives)

Ndi ekpelima

MONEY LAUNDERING

...behind every fortune, there is a crime". I knew it. The trio in OANDO are urbane crooks. Money laundry is their day job. I'm not surprised they failed/refused to list in the USA. Them for smell pepper....rogues.

Is Bola tinubu the same with

Is Bola tinubu the same with Jubril adewole Tinubu,

GREATEST THIEVES

WE HAVE ALWAYS KNOWN THAT THE NOISE MAKERS IN APC ARE THE GREATEST THIEVES WE HAVE IN NIGERIA. TEY HELD NIGERIA BOUND FOR OVER 40 YEARS. THEY ARE NOT HAPPY THE LOOP HOLES FOR EASY LOOTING OF NIGERIA MONEY IS NOW BLOCK BY THE GOOD WRK OF NGZI OKONJO IWEALA AND SANUSI IN THE CENTRAL BANK. TINUBU RULED LAGOS STATE FOR 8 YEARS AND ONLY PROMOTED THUGGERY IN THE STATE. LET THE NOISE MAKERS IN APC DEFEND T SIPHONING OF DELTA STATE MONEY THROUGH THEM TO THE SWISS ACCOUNT OF CONVICTED EX GOVERNOR OF DELTA STATE IBORI. IMAGINE A STATEMENT THAT IBORI'S SHARE I INSIGNICANT. SHAME ON YOUR OADOO

Oando is that not Tinubu?

It seems wonders they say will never end, is this not the same Oando own by Tinubu? Hmmmm finally finally the chicken has come home to roost. Very soon all their yansh will open and we all will see how they politicians are taking Nigerians for a ride. APC come and defend yourselves ooooo.

Three steps to un-ravelling Oando Plc's money-laundering

The first step is for the Police and EFCC to move into Oando Plc; bundle the Company Secretary into detention, along with all members of the company's Board of Directors, including the company's Chief Accountant.

The second step is to grill each of them in detention to un-cover who knew what, when and how. The Oando Plc Finance Director, and, the company's Chief Accountant are of course the two key suspects in un-ravelling how the company's account books were cooked to disguise James Ibori's loot as legitimate equity investment under a trust instrument.

Third step is to detect and arrest those Nigerian bank Directors used and presumably bribed to effect the transfer of James Ibori's loot to England under the pretext of settling oil freight and refiners'invoices. But with a compromisable federal attorney-general like Mohammed Adoke in Nigeria, this three-step legal procedure is never likely to begin.

Governor Emmanuel Uduaghan stands prosecutable

It is an offence for anyone to conceal the criminal theft by another person. For that reason, the current Governor of Delta state, Emmanuel Uduaghan, who took over from James Ibori, is prosecutable at the end of his tenure for being a criminal accomplice to felony, and, for aiding and abetting.

Governor Uduaghan's specific accomplices are the two nominees of James Ibori in Oceanic Bank Plc's Board of Directors.

The case against Delta State Governor Emmanuel Uduaghan is so obvious that his eventual arraignment as a criminal accomplice is almost a given. Governor Uduaghan never volunteered information on missing Delta state funds to Nigeria's law enforcement agencies. That is a crime under Nigerian law.

Wale Tinubu and Oando Plc must face criminal trial

Quite obviously Oando Plc was set up to do more than retail fuel and engine oil. Wale Tinubu, its Group Chief Executive, had other ideas. From London court records, Oando Plc was set up partly for money laundering contrary to the Penal and Criminal Codes of Nigeria, besides being a violation of Nigeria's Money Laundering Act.

Now, given its serial criminal violations, Oando Plc directors have a prima facie criminal case to answer for an order nisi forfeiting Oando Plc to Nigerian government as "a criminal organization" - as defined under the relevant law.

This is a completely different angle to the James Ibori criminal looting of Delta State. Now it is known that a company quoted on the Nigerian Stock Exchange and known as Oando Plc was James Ibori's main criminal accomplice. The law must now take its course against Oando Plc.

Why the EFCC must re-open James Ibori's case

We are talking of a whopping 200 million United States dollars James Ibori stole from Delta state treasury - where the state residents still feed on maggots as staple diet.

Where is Nigeria's EFCC in all of this? Something is terribly wrong that a British prosecutor is the one telling Nigerians that an oil company, Oando PLC based in Lagos, Nigeria, is a criminal organization serving as conduit in laundering James Ibori's $200m theft.

Much is not yet known of James Ibori's quantum of thefts, despite on-going confiscatory proceeding of another $15 million of James Ibori's cash asset in a Nigerian court. This suggests the EFCC's investigation of James Ibori is in-complete. Full investigation need now continue from inside Oando Plc., to the law office of Wale Babalakin and onwards, to the historic bank books of both the New Nigerian bank and the Oceanic Bank.

They should also investigate

They should also investigate Notore chemicals. They will find a huge chunk of Ibori loot there too.

HeHeHeHe...SR, STOP COVERING YUR TASKMASTERS TRACKS!

"The introduction of Oando is an important new element in this case and will raise tremendous new interest in Nigeria because of the high profile and deep pockets of the company, as well as the political interests involved."

WHO are the 'political interests involved"? I say WHO r they?? We all know Tinubu(APC Capone) is SYNONYMOUS with Oando!
Now it has to do with 'Capone' Tinubu - SR's Taskmaster, the otherwise professional sleuths of SR have abandoned their name & shame policy and SUDDENLY BECOME Amateurish!!

Yet d APC internet hatchet men were abusing progressives like Balarabe Musa & I..wen we said we will have NOTHING 2 do with their 'squeaky clean' APC!
Haba Jama'a!!

Withhold all fund until Dr. Uduaghan leaves office.

Please keep all recovered funds in an escrow acct until the exit of his cousin. Oando? case has taken new dimension... I always tell people, the Hausa Fulani are not the problem of Nigeria. Lets rid our region, SS of the bad crops b4 we start pointing fingers Northward.

There is no crime that can be perpetrated in SS without the connivance of our uncles, brothers and sons.

Wale Tinubu may want to help us, the masses, shed more light on this newly introduced piece (discovery)... from 1 second-hand tanker to 200 tankers in less than 5yrs? Oti o, eduro, sumtin not adding up hia

NUHU RIBADU FOR PRESIDENT

Thieving

We have plenty of IBORIS in Nigeria, following what Ribadu said about the Governors during his time in the EFCC, almost all past Governors are thieves that should be in prison like Ibori. Mr. President would be doing Nigerians good by sending them to Kirikiri, and now is the time.

I saw this Oando PLC guy on

I saw this Oando PLC guy on CNN African program 3 years ago being interviewed.I think his name is Tinubu,a relation to this other thief Bola Tinubu.This Oando guy was wearing a shirt with no tie and dark goggles on CNN.He looks like a drug baron,He was not dressed like an executive.He appears really shabby.His English and diction was real shameful.He was touting how good his company was doing in Nigeria stock market and why everyone should invest in Oando plc.A year later Nigeria stock market crashed and a lot of investors were left crying the blues.I was one of the lucky Nigerian that saw fraud and ran.This country called Nigeria continues to be a laughing stock in the comity of nations.

Oando Plc.of Nigeria has a

Oando Plc.of Nigeria has a reputation with INTERPOL as a money laundering outfit for Nigeria corrupt officials and other outlaws including drug barons and 419 crooks.This company will slowly be brought to book.That is why I never bought the stock because it will soon fail.Nigeria is finished.

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