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UK Confiscates Fresh £211 Million Stolen By Abacha

UK Confiscates Fresh £211 Million Stolen By Abacha

Newly found Nigeria’s money looted by former dictator, General Sani Abacha, valued at £211,000,000 has been confiscated in a British Jersey bank account.

Abacha was the Nigerian military head of state between 1993 until his death in 1998.

Reports say Abacha laundered the latest in his looted money through the United States into the Channel Islands and was distributed in accounts held in Jersey by Doraville Properties Corporation, a British Virgin Islands company.

The money is now being held by the government until authorities in Jersey, the US and Nigeria come to an agreement on how it should be distributed.

According to reports, any money that Jersey does keep will be put into the Criminal Confiscation Fund, which is used to pay for a variety of projects, also in the past the fund had 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.

Attorney General Robert MacRae, according to reports, 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.”

 

About Mikail Mumuni