Browsing: Michael Igbinedion

Referring to the extant law, Njoku remarked that, “ Mr. Igbinedion was said to have accepted cash payments of the sums of ten million three hundred and nine thousand naira and also twenty one million naira contrary to the Money Laundering Act (Section 15(1) 2004) which provides that “No person or body corporate shall, except in a transaction through a financial institution, make or accept cash payment of a sum exceeding – (a) N500,000 or its equivalent, in the case of an individual”. So even if the convicted person used the money judiciously he is still liable

The anti-climactic denouement to a trial that was marked by a series of drama and unconscionable adjournments became ominous on Wednesday when the trial judge failed to sentence the accused persons having found them guilty on some of the charges in the 81-count information preferred against them by the EFCC

The duo alongside their companies – Gava Corporation Limited, Romrig Nigeria Limited, PML Securities Company Limited and PML Nigeria Limited – were prosecuted on an 81-count charge of money laundering, misappropriation of funds and abuse of office