Get it on Google Play

British Authorities Seize Abacha's £211m Loot

Updated Wednesday 5 June 2019 6:28
British Authorities Seize Abacha's £211m Loot
Former Nigerian Dictator and Army General Sani Abacha's money worth £211,000,000 which was laundered in Britain has been seized from a bank in Jersey by the British court.

Did you know? You can comment on this post! Just scroll down

The money was put into accounts held in Jersey by Doraville Properties Corporation, a British Virgin Island company.
Abacha was a Nigerian army officer and de facto president between 1993 until his death in 1998. During this period, he laundered money through the United States to the Channels Island.

The money will be held by the government until authorities in Jersey, the US and Nigeria come to an agreement on how it should be distributed. 
Any money that Jersey does keep will be put into the Criminal Confiscation Fund, which is used to pay for a variety of projects. In the past the fund has been used for the new police station and developments at La Moye Prison.
It is expected that even more money held by Doraville is likely to be seized and paid into the Civil Asset Recovery Fund in the future.

Metro UK reports that, Attorney General Robert MacRae said: ‘In restraining the funds at the request of the United States of America, through whose banking system the funds were laundered prior to arriving here, and in achieving the payment of the bulk of the funds into the Civil Asset Recovery Fund, Jersey has once again demonstrated its commitment to tackling international financial crime and money laundering.’

Article Posted 5 Years ago. You can post your own articles and it will be published for free. No Registration is required! But we review before publishing! Click here to get started

Love This? Share It!

One Favour Please! Subscribe To Our YouTube Channel!

468k

Cook Amazing Nigerian Dishes, Follow Adorable Kitchen YouTube Channel!

1.1m

Like us on Facebook, Follow on Twitter

React and Comment

Click Here To Hide More Posts Like This

Watch and Download Free Mobile Movies, Read entertainment news and reports, Download music and Upload your own For FREE. Submit Your Content to be published for you FREE! We thrive on user-submitted content! But we moderate!

Get it on Google Play
Attention
We use cookies to serve you better. We have to let you know this in accordance with EU laws. You accept our terms and conditions by using this platform. Please Click on the OK button below to hide this message