Nation
8th August 2014
8th August 2014
U.S. To Seize $480 Million Of Abacha's Loot
read 864 time(s)AITThe United States of America has won the right to seize and redistribute nearly half a billion dollars hidden in bank accounts around the world by the late Nigerian military dictator, General Sani Abacha, the Department of Justice said yesterday.
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U.S. To Seize $480 Million Of Abacha's Loot |
According
to court documents, late General Abacha, his son Mohammed Sani Abacha,
their associate Abubakar Atiku Bagudu and others embezzled,
misappropriated, extorted money from the Nigerian government and stashed
them in various banks across the world.
"Rather than serve his county, General Abacha used his public office in Nigeria to loot millions of dollars, engaging in brazen acts of kleptocracy," said Assistant Attorney General, Leslie Caldwell. "With this judgment, we have forfeited $480 million in corruption proceeds that can be used for the benefit of the Nigerian people."
During investigations, $303 million was found in two bank accounts operated by Abacha and his cronies in the British offshore center of Jersey while $144 million was also found in two bank accounts they operated in France.
"Rather than serve his county, General Abacha used his public office in Nigeria to loot millions of dollars, engaging in brazen acts of kleptocracy," said Assistant Attorney General, Leslie Caldwell. "With this judgment, we have forfeited $480 million in corruption proceeds that can be used for the benefit of the Nigerian people."
During investigations, $303 million was found in two bank accounts operated by Abacha and his cronies in the British offshore center of Jersey while $144 million was also found in two bank accounts they operated in France.
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