Wednesday, 29. February 2012
Topic: POLICE REPORT - on February 29, 2012 at 11:30:00 AM CET
DIY worker turned Nigerian governor admits £50m fraud
James Ibori, a Wickes cashier who went on to become the governor of a Nigerian state, has admitted fraud totalling nearly £50 million, said to be part of total embezzlement which could exceed 250 million US dollars.
Ibori pleaded guilty at Southwark Crown Court to a series of charges linked to the theft of money from the Delta state and fraud involving state-owned shares in a mobile phone firm.
He admitted one count of conspiracy to launder money, five of money laundering and one of obtaining a property transfer by deception over the theft of more than £25 million while he was governor of the region.
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