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James Ibori to lose $129m after fresh UK ruling
James Ibori, a Nigerian politician and former governor of the Delta State, was requested by a state prosecutor on Thursday to forfeit more than 100 million pounds ($129 million), according to Reuters.
Ibori had previously served years in prison in Britain after being found guilty of fraud there.
Ibori was extradited from Dubai to London in 2011 and accused of using a “corruptly acquired fortune” to fund his lifestyle.
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He was sentenced to 13 years in prison after entering a guilty plea to 10 counts of fraud and money laundering in 2012. Britain praised this decision as a turning point in the fight against corruption.
After more than a decade of legal wrangling and court delays, attempts by prosecutors to confiscate funds considered to be the benefits of Ibori’s fraudulent activities now appear close to conclusion.
Judge David Tomlinson of Southwark Crown Court has made factual findings regarding the funds.
At a hearing on Thursday, both sides made competing arguments about how the confiscation figure should be calculated, taking into account the judge’s findings.
He is expected to finalise and formally issue his order on Friday or shortly afterward.
Lead prosecution counsel, Jonathan Kinnear, told the court that the total amount that should be confiscated from Ibori was 101.5 million pounds and that if he did not pay up he should be sentenced to between five and 10 years in prison.
Having served half of his prison sentence in pre- and post-trial detention, as is common, Ibori returned to Nigeria in 2017 and did not attend Thursday’s hearing.
