London-Based Nigerian Fraudsters Ran £2.7million Lotto Scam Which Led To Murder

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Two Nigerian fraudsters, whose global £2.7m scam had deadly consequences for one family they mercilessly ripped off, were jailed today. Police identified a total of thirteen victims all over the world, who each lost an average of £207,000, after the duo convinced them they were due an Australian lottery pay-out, inheritance, investment benefit or were sold non-existent heavy plant machinery.

Obinnam Nwokolo, 37, of 20 Chesworth Close, Erith, who amassed a valuable property portfolio in the UK and Nigeria, received six years and four months and Uchechhukwu Onuoha, 40, of Aspen Green, Erith, who entered this country on a student visa, received five years and two months. Both pleaded guilty at Croydon Crown Court to conspiracy to defraud between October 1, 2008 and September 15 last year.

One of their victims, Betty McClellan, 62, of Hyde Park, Los Angeles was shot dead by her husband Hersey McClellan, 63, who then shot himself on June 20, 2010 after she wired £264,000 — blowing the couple’s hard-earned pension. She transferred the sums to accounts controlled by fellow Nigerians Sergius Ene, 44, of 111 Rushden Gardens, Ilford and Osas Odia, 33, of 15 Windrush Court, Chichester Wharf, Erith, who both admitted conspiring to launder criminal property.

Ibori Update: London police to testify against Babalakin

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OPERATIVES from the London Metropolitan Police are to give evidence when the trial of the Chairman, Bi-Courtney Highway Services, Dr. Wale Babalakin, finally begins at a Lagos High Court, Ikeja.
A senior lawyer privy to the goings-on in the case told our correspondent on Sunday that the Met police investigated the involvement of Babalakin and others in the alleged laundering of N4.7bn on behalf of the convicted former governor of the state, James Ibori.

London Court Freezes Ubah’s Assets Worldwide

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Ifeanyi Uba

A London High Court of Justice, Queen’s Bench Division, has placed a worldwide order (mareva injunction) against the assets of Mr. Ifeanyi Ubah and his company, Capital Oil and Gas Industries Limited.

This is just as the feud between Ubah and the Chairman of Coscharis, Mr. Cosmos Maduka, has taken a new twist as the Capital Oil boss Wednesday  sent a petition to the Inspector-General of Police (IG), Mohammed Abubakar, alleging threats to his life. He demanded the arrest of Maduka over the alleged threat.

The order by the UK court, which was granted sequel to an application by Access Bank Plc, is aimed at preserving the assets of the respondents pending the determination of the suit brought before it by the bank.

The bank had alleged that Ubah and his company had fraudulently diverted the petroleum products it financed under the joint venture agreement between Capital Oil and Coscharis Motors Limited. Also restrained alongside Ubah and Capital Oil and Gas Industries Limited, are Rofos Navigation Limited, Xifias Navigation Limited, Heli Navigation Limited and Tutbury Maritime Limited.

Update: Oyo's First Lady was not arrested - London Metropolitan Police

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News filtered in today that Oyo First Lady, Mrs Florence Ajumobi was arrested yesterday by London's Metropolitan police in the UK for being in possession of £400, 000 (100 million). But the London MET has denied that any such arrest took place. They said there's no information on the alleged arrest in their police database

Florence Ajimobi, Wife Of The Oyo State Governor Arrested In London With £400,000 In Her Possession

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There has been palpable anxiety in the government circles of Nigeria’s Oyo State over the alleged arrest of Mrs. Florence Ajimobi, wife of the governor, in the United Kingdom for alleged money laundering.

Reports on the web and some blogs claimed that the woman was arrested two weeks ago by the London Metropolitan Police on her 52nd trip to the UK since her husband became governor 17 months ago. She was allegedly found to be in possession of 400,000 pounds and thousands of dollars, with a combined value of N500million.

London Met Police has not issued any statement about her alleged arrest. And her name drew blank in a search of the Met Police website by P.M.NEWS.

Resolution in talks to sell Malaysia JV stake

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LONDON: British life insurer Resolution on Tuesday said it was in talks to sell its stake in a Malaysian joint venture as part of an overhaul aimed at cutting costs and boosting returns to shareholders.

The company is discussing a sale of its 30 per cent stake in Amlife Insurance Berhad and AmFamily Takaful Berhad back to its joint venture partner, Malaysian lender AmBank Group, Reuters quoted it as saying.

A spokesman said the planned sale formed part of a previously-announced effort by Resolution to streamline its operations and increase cash generation.

The company, created to buy and merge underperforming life insurers, earlier this year called a halt to takeovers and said it would focus instead on squeezing savings out of its existing assets, which include life insurer Friends Provident.

Resolution said its joint venture stake had an embedded value — an industry measure denoting the present value of expected future earnings from life insurance policies — of £38m ($61.00m) as of June 30.

Resolution shares were up 0.3 per cent at 1315 GMT, underperforming a one per cent increase in the FTSE 100 share index.

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Source : punchng[dot]com

UK builder unveils management services company

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Leading United Kingdom builder, Barratt, has announced that it is to launch an in-house management services company for London developments.

Called Barratt Residential Asset Management, the firm said it aims to ensure Barratt’s customer service is extended through the life of the company’s developments.

Barratt London is the first developer outside the retirement sector to launch an in-house management company and this builds on the company’s commitment to customer service which already includes Barratt’s unique five year warranty, according to propertywire.com.

The objective will be to give the company a competitive edge in large leasehold developments where the management of common areas and service charges can become an issue. It is structured not to be profitable in its own right.

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Source : punchng[dot]com