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Thursday, 8 September 2011

"£20 Million Recovered - Is There Anymore?"

Recovered: Nigeria’s £20 million

Sani Abacha
MORE than £20 million of embezzled funds hidden in Jersey bank accounts during the corrupt regime of the late Nigerian dictator Sani Abacha has been returned to the Nigerian government.
The Attorney General of Nigeria, Mohammed Bello Adoke, led a delegation to the Island last month to negotiate the release of the funds, which were the proceeds of corrupt vehicle deals.
The cash was confiscated from fraudster Raj Bhojwani, a businessman now serving a six-year jail sentence for laundering US$43.9 million through his Island bank accounts. Abacha’s regime was synonymous with corruption. During his five-year rule as president of Nigeria, between seizing power after cancelling elections and his death in a suspected poisoning in 1998, he looted an estimated £2.2 billion from the county’s coffers.
An article in The Nation, a Nigerian newspaper, recently claimed that there was a further $400 million stashed away in Jersey that should also be recovered. In June 2004 the then Nigerian president, Olusegun Obasanjo, came to Jersey to thank the Island authorities for their investigations into money laundering by Nigerian officials, and for the return of £73.25 million to Nigeria in previously uncovered looted cash.
Jersey’s Attorney General, Tim Le Cocq, said on Wednesday that it was a pleasure to help a country that had suffered so much through corruption, and underlined his department’s commitment to seizing the proceeds of crime and returning them to their rightful owners wherever possible.

This was the figure in June???

"A man who laundered money in a business deal with ex-Nigerian dictator General Sani Abacha has been ordered to repay £26.5m by Jersey's Royal Court.
Raj Arjandas Bhojwani, from India, laundered £28m through the Jersey branch of the Bank of India."

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