JUST IN: Ibori Risks £100m Seizure, Fresh 10-Year Jail Term In UK

JUST IN: Ibori Risks £100m Seizure, Fresh 10-Year Jail Term In UK

A court in the UK is preparing to confiscate over £100 million ($129 million) from former Delta State Governor James Ibori, marking the end of a process that began in February 2017.

This follows Ibori’s return to Nigeria after serving a prison sentence for money laundering and fraud charges.

The British authorities accused Ibori of stealing public funds and laundering them through UK banks and properties.

During a hearing on Thursday, Judge David Tomlinson of Southwark Crown Court made factual findings regarding the amount of money linked to the former governor.

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The prosecution and the defense presented their arguments on how the confiscation figure should be calculated based on the judge’s findings.

Despite his absence at the hearing, the prosecution lawyer, Jonathan Kinnear, asserted that £101.5 million should be confiscated from Ibori. Failure to pay this amount could result in an additional prison term of between five and ten years.

James Ibori was extradited from Dubai to London in 2011 after fleeing Nigeria.

The following year, he pleaded guilty to 10 charges of fraud and money laundering and was sentenced to 13 years in prison.

He was released from prison on December 21, 2016, following a court order.

Counsel to the Home Office wanted him to remain in detention after serving his jail term, but the Crown Prosecution lawyer did not object to Ibori’s release and return to Nigeria.