Michael Igbinedion convicted of Money laundering

                


Michael Igbinedion was on Wednesday convicted by a High Court,  Benin division of N25 billion Money laundering charge instituted against him and five others by the Economic and Financial  crimes Commission EFCC,in a jugdement passed by Justice A.M Lima,

The offence was been committed during the tenure of his elder brother Lucky Igbinedion as governor of Edo state from 1999 to 2007.


Among those convicted in the 81-count charge of money laundering are Patrick Eboigbodin, a former Accountant-General and the four companies are Gava Corporation Limited, Romrig Nigeria Limited, PMI Securities Company Limited and PML (Nigeria) Limited.

In his judgement, Justice Lima convicted the junior Igbinedion on counts 79, 80 and 81 which bothered on collecting cash payment above N500,000.00, while ‎Patrick and PML (Nigeria) Limited were convicted on count 50, 51, 52, 53, 54, 55, 56, 57, 58 and 58 which bothered on collaboration to conceal origin of funds amounting to millions of naira paid into their private accounts.

He added that prosecution proved alleged collaboration beyond reasonable doubts, however discharged all the accused on other count charges because the prosecution failed to prove the allegations, noting that the prosecution only proved suspicion and failed to prove illicit origin of funds deposited in some banks. he reserved sentencing til 30th April.