Showing posts with label laundering. Show all posts
Showing posts with label laundering. Show all posts

Monday, August 12, 2013

UK fines GTBank For Money Laundering Checks

The United Kingdom-based Financial Conduct Authority has fined the UK subsidiary of the Guaranty Trust Bank over £500,000 for failing to complete thorough anti-money laundering checks on its potential clients from high-risk countries.

The FCA said on Friday that between May 2008 and July 2010, the financial institution had failed to assess potential money-laundering risks, screen customers against sanction lists, establish the objective of the accounts being opened inside their London branch or review the experience of “high risk” accounts, Reuters'report said.

Thursday, May 2, 2013

Money Laundering: Ibori Loses Appeal Over 13-Year Jail Term

The jailed former Delta State governor, James Ibori, lost a legal appeal on Thursday against a 13-year prison sentence for embezzling more than $250 million.

Mr Ibori, a founding member of Nigeria’s ruling party and a behind-the-scenes kingmaker who ran Delta State for 8 years, was trying to get his sentence reduced. His lawyers argued that the original judge had indicated the term would be shorter.
Judge Antony Edwards-Stuart rejected that argument at the appeal hearing and also said that money laundering should attract close to the maximum 14-year sentence.

Saturday, April 20, 2013

Alleged money laundering: Ladoja’s appeal suffers setback

For the second time, in less than two weeks, the Court of Appeal, Lagos Division, yesterday refused to hear the appeal instituted by former Oyo State Governor, Rasheed Ladoja, challenging the competence of corruption charges levelled against him by the Economic and Financial Crimes Commission (EFCC).
The appeal which was earlier fixed for definite hearing could not be heard as a result of a defective application filed by counsel to the appellant, Dr. Dapo Olanipekun, from Chief Wole Olanipekun (SAN) chambers.

Monday, February 11, 2013

EFCC re-arraigns Femi Fani-Kayode over alleged money laundering

The Economic and Financial Crimes Commission (EFCC) on Monday re-arraigned a former Minister of Aviation, Femi Fani-Kayode, over alleged money laundering.  Fani-Kayode appeared before Justice Rita Ofili-Ajumogobia of a Federal High Court in Lagos, on a 47-count charge. He, however, pleaded not guilty.  His counsel, Chief Ladi Williams, prayed the court to allow him to continue with the bail granted him by Justice Ramat Mohammed, who earlier handled the case.
Williams also prayed the court to allow Fani-Kayode the liberty to travel abroad at will for medical check up, as granted him by Justice Binta Murtala- Nyako, who also had handled the case.

Thursday, December 13, 2012

Jigawa Governor's Son Arrested For Money Laundering at Kano Airport

One of the sons of the Jigawa State governor, Sule Lamido, was arrested around 12 midnight at the Mallam Aminu Kano International Airport as he prepared to board an Egypt Air flight to Cairo. Aminu Lamido was flagged after he declared $10,000 in his possession to agents of of the Nigerian customs at the airport. However further checks by agents of the Economic and Financial Crimes Commission (EFCC) at the airport revealed that he was carrying a lot of money far higher than was disclosed.


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