Igbinedion Found Guilty of Money Laundering, to Be Sentenced Today

Michael Igbinedion, younger brother to former Governor Lucky Igbinedion of Edo State was yesterday found guilty by a Federal High Court sitting in Benin City in the N25 billion money laundering case preferred against him and five others by the Economic and Financial Crimes Commission and would be sentenced today.

Michael and others were arraigned on an 81-count charge of money laundering.

The offence was committed when his brother, Lucky, was the Governor of Edo State between 1999 and 2007.
Others accused in the case 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.
Justice A.M. Lima in the judgment that was read for over three hours, convicted Michael on count 79, 80 and 81 which bothered on collecting cash payment of over N500,000.

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 the origin of the funds amounting to millions of naira paid into their private accounts.

He said the prosecution proved alleged collaboration beyond reasonable doubts.

Lima however, discharged all the accused on other count charges because the prosecution failed to prove the allegations.

According to him, the prosecution only proved suspicion and failed to prove illicit origin of funds deposited in some banks.

He said he could not sentence the accused after reading the judgment and adjourned till today.

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