Home Top Stories Ibori May Forfeit £250m Assets, As Another Trial Begins In UK

Ibori May Forfeit £250m Assets, As Another Trial Begins In UK


By Teddy Nwanunobi, Abuja

Former Governor of Delta State, James Onanefe Ibori, stands the risk of forfeiting assets worth about £250 million, as his confiscation trial begins in the United Kingdom on Friday.

Ibori is appearing before Justice David Tomlinson at the Southwark Crown Court for charges bordering on confiscation of his properties.

If found guilty, he may be forced to forfeit his assets, worth about £250 million.

Ibori was previously sentenced by a United Kingdom’s court to prison for 13 years, after pleading guilty to 10 charges of fraud and money laundering in February 2012.

He has, however, successfully served out that sentencing, having served a year while trial was ongoing, a year beforehand awaiting trial in London and a year in Dubai from where he was extradited to Britain.

Ibori during his trial confessed to purchasing six foreign property and a fleet of cars with the stolen funds which runs up to 200 million pounds.

He has appealed his conviction for money laundering and graft.

More details to come on the proceedings in Southwark Crown Court London.

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