TheCitizen - It's all about you
  • Home
  • Headlines
  • Latest News
  • Governance
  • Business
  • Financial Crimes
  • Opinion
  • Editorials
No Result
View All Result
  • Home
  • Headlines
  • Latest News
  • Governance
  • Business
  • Financial Crimes
  • Opinion
  • Editorials
No Result
View All Result
TheCitizen - It's all about you
No Result
View All Result

Money laundering: Court fines Igbinedion N3m in N25bn suit

The Citizen by The Citizen
May 1 2015
in Financial Crimes, Uncategorized
A A
0

The Federal High Court sitting in Benin yesterday sentenced Michael Igbinedion, son of Gabriel Igbinedion and Esama of Benin, to six years imprisonment over laundering of N25 billion belonging to Edo State Government.

The court also sentenced Patrick Eboigbodin, an aide to former governor of Edo State, Lucky Igbinedion, to two years jail on each of the 10 counts he was found guilty, bringing the sentence to 20 years imprisonment without an option of fine.

He is, however, to serve two years in jail as the sentences are to run concurrently.

Michael Igbinedion was sentenced to two years imprisonment on each of the three counts he was found guilty, but the jail terms are to run concurrently.

He was, however, given an option of N3 million fine.

PML Nigeria Limited, one of the companies allegedly used by the convicts to launder the funds and 6th accused in the suit, was  ordered to pay N10 million, having been fined N1,000,000 on each of the 10 counts it was found guilty.

Besides, the company was ordered to fold up and forfeit all its assets to the Federal Government.

The case of  money laundering was instituted against the convicts,  Michael Igbinedion, Patrick Eboigbodin, Gava Corporation,  Romring Nigeria Limited, PML Securities and PML Nigeria Limited by the Economic and Financial Crimes Commission (EFCC).

They were arraigned on 81-count charge bordering on money laundering. The  offences were committed between 1999 and 2007 when Lucky Igbinedion was the governor of the state.

Michael Igbinedion was convicted on three counts bordering on collecting cash payment above N500,000, while a 10 count charge, bordering on collaboration to conceal the origin of funds amounting to millions of naira paid into their private accounts was preferred against Patrick and PML (Nigeria) Limited.

The trial judge, Justice Abubakar Liman, while delivering the judgment, said the  prosecution proved the charge of collaboration against the convicts beyond reasonable doubt.

He, however, discharged all the convicts on other counts because the prosecution failed to prove the allegations.

He said the prosecution only proved suspicion and failed to prove illicit origin of funds deposited in some banks.

Previous Post

Bank of Industry creates N1bn Nollywood fund

Next Post

Military conceals identity of rescued Boko Haram victims

Related Posts

Customs intercept stolen Rolls-Royce, Lamborghini, others from Canada
Financial Crimes

Customs intercept stolen Rolls-Royce, Lamborghini, others from Canada

May 10 2026
Fed Govt extends cash transfer programme by two years
Financial Crimes

EFCC declares former Humanitarian Affairs Minister Sadiya Umar Farouq wanted

May 9 2026
Court convicts ex-power minister Mamman of fraud, money, laundering
Financial Crimes

Court convicts ex-power minister Mamman of fraud, money, laundering

May 7 2026
Timipre Sylva denies involvement in alleged coup plot
Financial Crimes

Court orders Sylva to forfeit nine Abuja properties to Fed Govt

May 6 2026
NDLEA, Ghana’s anti-drug agency sign pact to tackle drug cartels
Financial Crimes

NDLEA, Ghana’s anti-drug agency sign pact to tackle drug cartels

May 5 2026
Court orders final forfeiture of Emefiele’s properties
Financial Crimes

Emefiele trial: Court admits co-defendant’s EFCC statement

May 5 2026
Next Post

Military conceals identity of rescued Boko Haram victims

FG plots to sabotage smooth handover – APC alleges

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

FROM THE GRASSROOTS

Gov. Adeleke deposes Oba Joseph Oloyede, Apetu of Ipetumodu

Gov. Adeleke deposes Oba Joseph Oloyede, Apetu of Ipetumodu

by The Editor
May 12 2026
0

...

Ebonyi State lifts 3-month curfew after bloody boundary crisis

Ebonyi State lifts 3-month curfew after bloody boundary crisis

by The Editor
May 5 2026
0

...

Ondo community begs Gov. Aiyedatiwa to intervene in regent appointment crisis

Ondo community begs Gov. Aiyedatiwa to intervene in regent appointment crisis

by The Editor
April 30 2026
0

...

Service Chiefs: Let the changes count – Punch

Tinubu approves ₦17bn grassroots devt fund for 8,804 wards

by The Editor
April 22 2026
0

...

APPOINTMENTS

Tinubu creates Homeland Security adviser role, appoints ex-army general

Tinubu creates Homeland Security adviser role, appoints ex-army general

by The Editor
May 11 2026
0

...

Soludo appoints MDs for three Anambra agencies

Soludo appoints MDs for three Anambra agencies

by The Editor
May 4 2026
0

...

Tinubu seeks Omidiran, 28 others’ confirmation as FCC members

Tinubu approves immediate assignment of four new permanent secretaries

by The Editor
May 4 2026
0

...

FirstBank confirms appointment of Olayinka Ijabiyi as Group Head, Marketing & Corporate Communications

FirstBank confirms appointment of Olayinka Ijabiyi as Group Head, Marketing & Corporate Communications

by The Editor
May 1 2026
0

...

ODDITIES

Woman allegedly beats 9-yr-old stepdaughter to death

Woman allegedly beats 9-yr-old stepdaughter to death

by The Editor
May 12 2026
0

Police begin disciplinary action against officer in viral misconduct video

Police begin disciplinary action against officer in viral misconduct video

by The Editor
May 10 2026
0

Gombe magistrate lands in jail for bribery

Gombe magistrate lands in jail for bribery

by The Editor
May 7 2026
0

GLOBAL NEWS

Trump to visit China for high-stakes talks with Xi Jinping

Trump to visit China for high-stakes talks with Xi Jinping

by The Editor
May 12 2026
0

...

Macron in fresh push to rebuild France-Africa partnership

Macron in fresh push to rebuild France-Africa partnership

by The Editor
May 12 2026
0

...

Instagram ends support for end-to-end encrypted DMs

Instagram ends support for end-to-end encrypted DMs

by The Editor
May 8 2026
0

...

New York governor bans ICE agents from wearing masks

New York governor bans ICE agents from wearing masks

by The Editor
May 7 2026
0

...

France to raise tuition fees for non-EU students

France to raise tuition fees for non-EU students

by The Editor
May 7 2026
0

...

State of the States

Gov. Radda gifts cars to outstanding Katsina students

Gov. Radda gifts cars to outstanding Katsina students

by The Editor
May 12 2026
0

...

Okpebholo promises justice for slain UNIBEN student

Okpebholo promises justice for slain UNIBEN student

by The Editor
May 11 2026
0

...

Gov. Mbah pledges to end road crashes in Enugu

Enugu govt to build 660MW coal-fired power plant

by The Editor
May 7 2026
0

...

Davido backs Adeleke’s re-election, joins campaign mobilisation in Osun

Otti pledges to keep security as top priority in Abia

by The Editor
May 7 2026
0

...

Plugin Install : Widget Tab Post needs JNews - View Counter to be installed
  • Trending
  • Comments
  • Latest
Akwa Ibom governor consults Akpabio over 2027 re-election bid

Akwa Ibom governor consults Akpabio over 2027 re-election bid

May 12 2026
Nollywood star Alex Ekubo dies at 40

Nollywood star Alex Ekubo dies at 40

May 12 2026
ADC revises primary election timetable, nomination fees

Eight aspirants jostle for ADC guber ticket in Rivers State

May 12 2026
Gov. Radda gifts cars to outstanding Katsina students

Gov. Radda gifts cars to outstanding Katsina students

May 12 2026

EDITORIAL REVIEW

Urgent measures needed against hantavirus – Punch

Urgent measures needed against hantavirus – Punch

by The Editor
May 10 2026
0

Nigeria at critical juncture – Vanguard

The cost of living crisis is becoming a national emergency – PM News

by The Editor
May 7 2026
0

Robbers on the rampage – Punch

Robbers on the rampage – Punch

by The Editor
May 7 2026
0

Outrageous extrajudicial Delta police killing – Punch

by The Editor
May 5 2026
0

Oyedele’s moment: Not business as usual – Punch

Oyedele’s moment: Not business as usual – Punch

by The Editor
May 4 2026
0

Opinion

The dangers of a one-party state

The dangers of a one-party state

by The Editor
May 5 2026
0

...

Dear Senator Tinubu, Buhari has thrashed us all!

NBC’s real struggle

by The Editor
April 30 2026
0

...

Even INEC admonishes the media?

Even INEC admonishes the media?

by The Editor
April 12 2026
0

...

Enugu: Gov Mbah presents N521.5bn budget for 2024

Mbah: From contested mandate to constructive governance in Enugu

by The Editor
April 9 2026
0

...

Plugin Install : Popular Post Widget need JNews - View Counter to be installed
  • Home
  • Headlines
  • Latest News
  • Governance
  • Business
  • Financial Crimes
  • Opinion
  • Editorials

© 2026 TheCitizen Ng. All Rights Reserved.

No Result
View All Result
  • Home
  • Headlines
  • Latest News
  • Governance
  • Business
  • Financial Crimes
  • Opinion
  • Editorials

© 2026 TheCitizen Ng. All Rights Reserved.