Skip to main content

James Ibori may not return a dime of the money he stole as governor

The former Wickes cashier blew millions on luxury homes, a £12.6million private jet, fees at some of the UK's most expensive boarding schools for his children and exclusive hotels
A former Wickes cashier who became a Nigerian state governor and defrauded £157million of public funds to live a lavish lifestyle may not have to pay a single penny back.
James Ibori, 51, is said to have personally pocketed £50million of cash stolen from the west African nation’s oil-rich Delta State during his eight-year tenure.
The former £5,000-a-year Wickes cashier blew millions on luxury homes, a £12.6million private jet, fees at some of the UK’s most expensive boarding schools for his children, first-class travel and exclusive hotels.
He owned a £600,000 fleet of armoured Range Rovers, a £120,000 Bentley and a £340,000 Mercedes Maybach that was shipped direct to his £3.2million mansion in Johannesburg. continue...


Described as one of Nigeria’s most influential and wealthy politicians, Ibori rigged lucrative state contracts with the help of his wife, mistress, sister, and an inner circle of corrupt officials and lifted money straight out of state funds.
He also sold £23million of state-owned shares in telecoms company Vee Mobile to fund a lavish lifestyle, including £125,000 monthly credit card bills while his people languished in poverty
Ibori, who now lives in Hampstead, north west London, was sentenced to 13 years behind bars in April 2012 after admitting a raft of fraud and money laundering offences.
He is due to face a confiscation hearing at Southwark Crown Court but it was claimed today that he did not make a single penny from the £157million fraud.
Applying to have confiscation proceedings thrown out, Ivan Krolick, defending, said Ibori’s pleas of guilt were not an admission that he personally profited from the scam.
The court heard if the full confiscation hearing does go ahead under the Proceeds of Crime Act, the fraudster may only be ordered to pay back £330,000.
Prosecutor Sasha Wass QC said: ‘The handling of the money itself gave rise to the crime so the benefit of the crime in the context of this case would be the same thing.
‘It gives rise to the proceeds of crime.
‘The Crown has been taken wholly by surprise that Mr Krolick should address the court and say that there was no evidence in effect that Mr Ibori benefited’.
Nigerian-born Ibori moved to the UK in the 1980s where he married his wife, Theresa, and worked as a cashier at Wickes in Ruislip, Middlesex.
In 1990 the pair were convicted of stealing goods from the store and fined £300. A year later Ibori was fined £100 for handling a stolen credit card before he moved back to his homeland.
Ibori was elected as governor of Delta State in 1999 after tricking his way into power by hiding details of his previous convictions in the UK for theft and changing his age.

In 2003, he was re-elected as governor for another four year term, after failing to disclose his previous convictions and financial status.

Comments

Popular posts from this blog

The Rich Kids of Russia: Instagram mocks the children of oligarchs photographed posing beside luxury golden cars, mansions and private jets

An anonymous Instagram account revealing the lifestyles of the rich children of Russian oligarchs has become an internet sensation. The biography of the anonymous profile says it is dedicated to documenting the lives of the kids from Russia growing up in luxury.  The account specializes in collecting photos of rich Russian kids that they post online themselves, with everything from luxury cars through to selfies with expensive cars, boats or famous people.

$2million raised by Spark Internet Group

Jason Njoku, Bastian Gotter and Mary Remmy-Njoku launched Spark, the Lagos-based Internet Group that invests in Nigerian start-ups, a few months back. (If you missed it, read it HERE). They launched with a $1m investment fund and have just announced that due to huge interest in their company, they have secured another $2million from a pool of 17 international high net individual investors, based on a $10m valuation for the three month old company. It seems that the world now firmly has its eyes on Nigeria for exciting Internet companies to invest in!

Spark companies employ 130 people across the nine launched companies in Lagos, three of which have already secured second-round seed investments totaling an additional $700k from Njoku and Gotter. Continue...

Spark’s goal is to revolutionize Nigeria’s angel investment eco-system, focusing on the country’s Internet startup scene.   In an official press release, Jason Njoku of iROKOtv fame says: “Every Spark company we have invested in alread…

THE MAN PETER MBAH

Peter Mbah was born on the 17th, March 1972
He started his primary education in 1978. He attended the Army Children School, Bori Camp, Port Harcourt where he obtained his 1st School Leaving Certificate in 1984. In the same year, he proceeded to Owode High School, Owode Egba, Ogun State and in 1990, he graduated with a Senior Secondary Certificate in Education (SSCE) (O’Levels).
An adventurous Mbah obtained a Certificate in German as Foreign Language from the VolkHoch Schule, Recklinghausen, Germany in 1992. Between 1997 and year 2000, he attended the University of East London, United Kingdom where he graduated as a lawyer (.L.L.B (Hons)) with a Second Class Upper Division. While at the School, Mbah was an outstanding President of the Student Law Society (1998-1999). During his tenure, the association won the Students Union’s prize and certificate of achievement for the “Most Productive Society of the Year”.