Lucky Igbinedion’s brother to pay N3m fine for N25bn fraud

firstclassnewsline.net

Firstclass Newsline gathered that a Federal High Court in Edo State
on Thursday sentenced a younger brother of ex-Governor Lucky
Igbinedion, Michael, to a six-year jail term for N25bn money
laundering offences.
An aide of the ex-governor, Patrick Eboigbodin, was also jailed for
20 years for the same of offences.
However, the governor's brother has an option of paying N3m or N1m for
each of the three counts on which he was found guilty to avoid going
to jail.
The brother sentencing on Thursday is without an option of fine.
The two convicts and four companies had been arraigned by the Economic
and Financial Crimes Commission on an 81-count charge of money
laundering during the tenure of Lucky Igbinedion as governor.
The four companies are Gava Corporation Limited, Romrig Nigeria
Limited, PML Securities Company Limited and PML Nigeria Limited.
Justice A.M. Liman found Michael guilty on counts 79, 80 and 81 of the
alleged charges while Eboigbodin was found guilty on counts 50, 51,
52, 53, 54, 55, 56, 57, 58 and 59.
The judge also ordered the forfeiture of the assets of PML Limited to
the Federal Government. The company will also pay N250,000 fine.
Liman noted that the prosecution had proved the alleged collaboration
by the accused beyond reasonable doubts but he discharged them all on
the other count charges on the grounds that the prosecution failed to
prove the allegations.
The judge further explained that the prosecution only proved suspicion
but failed to prove illicit origin of funds deposited in the named
banks.
Earlier, the counsel to the first, third, fourth, fifth and sixth
accused persons, Richard Ahonanuogho, acknowledged that the 10-count
charges brought against his clients centred on money laundering as
contained in Section 14 (1) of the Money Laundering Act (2004) and the
law provided a sentence of two to three years imprisonment.
He, however, urged the court to use its discretion to award a fine or
apply a suspended sentence as the first accused, the ex-governor's
brother, was a first offender, in his late 50's and had not benefited
from the said offence.
Counsel to the second accused, Abubakar Shamsudeen, had told the court
that his client, Eboigbodin , had pleaded leniency based on his age
and being a first offender and a victim of the office he occupied when
the offence was committed.
He, therefore, urged the court to apply an option of fine, not below
N250,000 or N500,000, and not more than N1m, in lieu of imprisonment.
But the counsel to the EFCC, Tayo Olukotun, urged the court not to be
persuaded by the plea for leniency by the accused, arguing that their
conviction would be in line with the provision of the law and that the
call for suspended sentence was not within the court's jurisdiction.
The prosecution also submitted that the claim of non-criminal benefit
by the first accused was not an issue because the crime had already
been established.
Firstclassnewsline.net