On Thursday, the US Justice Department
said that it has won legal control of nearly a half-billion dollars
worth of corrupt gains hidden in banks by late Nigerian dictator Sani Abacha.
A court judgement on Wednesday gave the
US title to more than $480million that Abacha and his associates
embezzled and secured in accounts in Jersey, England, Ireland and
France.continue...
The US is still seeking control over another four Abacha-tied investment portfolios of $148 million in Britain.
On the basis that the corrupt funds were
originally moved through the financial system, the department will seek
to have authorities in those four jurisdictions order banks to transfer
the money to it.
“General Abacha and others
systematically embezzled billions of dollars in public funds from the
Central Bank of Nigeria on the false pretense that the funds were
necessary for national security
The conspirators withdrew the funds in cash and then moved the money overseas through US financial institutions.
Our goal is to repatriate the recouped funds for the benefit of the Nigerian people” said a rep for the department.
Abacha ruled the Federal Republic of Nigeria from 1993 to 1998.
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