Swiss authorities convict Abacha’s son, seize $350m assets (Page 2)

Date: 25-11-2009 8:26 am (14 years ago) | Author: Daniel Bosai
1 [2] 3
- nicefranky at 26-11-2009 10:46 PM (14 years ago)
(m)
What can nigerians do 2 our leaders 4 christ sake. they are robbing us dry
Posted: at 26-11-2009 10:46 PM (14 years ago) | Newbie
Reply
- derbi at 28-11-2009 01:36 AM (14 years ago)
(m)
mmmm our money Sad
Posted: at 28-11-2009 01:36 AM (14 years ago) | Gistmaniac
Reply
- herdeysohjy at 28-11-2009 01:52 PM (14 years ago)
(m)
9ja, we are not seeing the effect of all this money
Posted: at 28-11-2009 01:52 PM (14 years ago) | Gistmaniac
Reply
- blings_is_back at 28-11-2009 03:01 PM (14 years ago)
(m)
not my business
Posted: at 28-11-2009 03:01 PM (14 years ago) | Hero
Reply
- kbyxcogitate at 28-11-2009 05:09 PM (14 years ago)
(m)
Na wa ooo.....anyway this are all bragging. after the recovering of the money what do they use it for?....atleast is not bad enough if nigeria can offer a monthly salary for the youth and does who are citizen of this country who doesnt have money to eat nor do they have Job to fetch them food on their table......na wa oooo. this country is completely phyuked up. this is our right and our right has been denied. $700million today, $3billion tomorrow..come to think of it..what is the population of nigeria self? the 700million is enough to do something .....if ghana should see this type of money in their government account they will make use of it very well now in their present state. phyuk phyuk phyuk phyuk phyuk N.I.G.E.R.I.A i will never be proud to be a nigeria at no condition. asswhole country
Posted: at 28-11-2009 05:09 PM (14 years ago) | Upcoming
Reply
- Sheenor at 29-11-2009 01:26 AM (14 years ago)
(m)
so wetin dey happen now??

Posted: at 29-11-2009 01:26 AM (14 years ago) | Hero
Reply
- dammykool at 29-11-2009 03:20 AM (14 years ago)
(m)
So what eventually happened to the money recovered. Some other will surely embezzle them again   
Posted: at 29-11-2009 03:20 AM (14 years ago) | Newbie
Reply
- meckky at 29-11-2009 05:47 AM (14 years ago)
(m)
this is where we come In  all youth  of nigeria ,  let ask our self where is this money . wut are they useing this money for ,  to me insterd of asking for Yar dua to die ask of this money ,   live thos that are doing buy and salen alone and kiddnap any top ranking goverment officia  kill then if u like maybe some will run away  and live niger for us  seen they all have america and british  >:( citizin,  passport
Posted: at 29-11-2009 05:47 AM (14 years ago) | Newbie
Reply
- simplydayo123 at 29-11-2009 11:34 AM (14 years ago)
(m)
Quote from: nametalkam on 25-11-2009 08:26 AM
Swiss authorities yesterday convicted Abba, one of the sons of the late military dictator, General Sani Abacha, for graft and ordered $350 million worth of assets to be seized from him.

"The first order of the sentence issued yesterday by the examining magistrate found that Abba Abacha, born November 9, 1968, son of the late General Sani Abacha, was guilty of participation in a criminal organisation," Geneva Canton's justice office said in a statement.

It said the examining magistrate sentenced Abba to a suspended jail term and ordered the confiscation of his assets worth $350 million “which is held by his criminal organisation and seized through international assistance in Luxembourg and the Bahamas.”

Agency reports say the court was not immediately available for comment on the duration of Abba’s suspended jail sentence.

In yesterday's statement, the Swiss authorities also said they had convicted a financial intermediary who is currently domiciled in the Principality of Monaco, for having been part of the “criminal organisation” run by the Abacha clan.

The person, who was not named, has been sentenced to pay an unspecified fine.

“The person has also been ordered to pay the Canton of Geneva 10 million Swiss Francs -- which corresponds to illegal gains obtained from these culpable activities," added the statement.

General Abacha, who died in June 1998, is suspected of having siphoned over $3 billion from Nige-rian between his coming to power in November 1993 and his death four-and-a-half years later.

Some $700 million of his loot, which was stashed in Swiss banks, have since been returned by Switzerland to Nigerian authorities.

The General Abdulsalami Abubakar and later, Olusegun Obasanjo regime had put pressure on the Swiss government in a bid to recover an estimated $3 billion in embezzled state funds sent abroad by Abacha during his four and half-year rule.

Abacha used a circle of family members, close aides and business associates to transfer the loot.

At Nigeria's request, Switzerland froze hundreds of millions of dollars held there, as have Luxembourg and Liechtenstein.

Between 1999 and 2007, the Obasanjo government succeeded in recovering about $700 million of the looted money from the Swiss government.

Recently, several leading banks in Switzerland have been criticised by the country's regulators for accepting money from the Abacha family

In a 2002 report, the Swiss Federal Banking Commission said 19 banks had dealings with Abacha and did not report suspicions of money laundering to the Swiss authorities.

Six banks - three branches of Crédit Suisse Plus, Crédit Agricole Indosuez, Union Bancaire Privée and MM Warburg - were singled out for failing to run adequate checks on new accounts, including those opened by General Abacha's two sons.

“The mere fact that significant assets of dubious origin, from people close to former Nigerian President Sani Abacha, were deposited at Swiss banks is highly unsatisfactory and damages the image of Switzerland as a financial centre,” Banking Commission chairman Kurt Hauri said in 2002 after a 10-month investigation.

The commission said that almost a third of the Abacha money deposited with Swiss banks had first been banked in the UK, United States and Austria.
yeah rite.....we still aint getting none
Posted: at 29-11-2009 11:34 AM (14 years ago) | Newbie
Reply
- malalawan at 29-11-2009 06:46 PM (14 years ago)
(m)
If Abatcha can loot such money in 4.5 years when the total Nigerian budget is only 200 million naira, imagine obasanjo's looting in 8 years when the country's budget is 3 trillion. bcos the nigerian masses did'nt see any change.
Posted: at 29-11-2009 06:46 PM (14 years ago) | Newbie
Reply
- olubenson007 at 2-12-2009 06:28 AM (14 years ago)
(m)
Just like his thieving father.
Posted: at 2-12-2009 06:28 AM (14 years ago) | Newbie
Reply
- yomzjoe at 2-12-2009 05:07 PM (14 years ago)
(m)
Wey all the money wey dem recover? thief dey catch thief. God will save this country.
Posted: at 2-12-2009 05:07 PM (14 years ago) | Newbie
Reply
- Agboko at 5-12-2009 02:15 PM (14 years ago)
(m)
One thief take another one collect am no bi disame tin? d one wey den collect b4 wetin dey take am do, d man wey say him know pass all carry am go,leave dem bo, anytin wey look too original for this country na fake, make una look all their faces, dem b de same tin.
Posted: at 5-12-2009 02:15 PM (14 years ago) | Newbie
Reply
- prince775 at 5-12-2009 05:07 PM (14 years ago)
(m)
All the Nigerian leaders are criminals and time has come when we should rise up for our right and fight this set of people... Obasanjo, Atiku, yaradua, Buari, and IBB are all thieves and they should all die like Abacha. they should come here in Europe and see how the government are helping their citizens. God will punish every leader who has done wrong one way or the other in Jesus name, amen.
Posted: at 5-12-2009 05:07 PM (14 years ago) | Gistmaniac
Reply
- blings_is_back at 5-12-2009 11:54 PM (14 years ago)
(m)
like father like.........
Posted: at 5-12-2009 11:54 PM (14 years ago) | Hero
Reply
- forot at 8-12-2009 03:12 PM (14 years ago)
(f)
where is the recover money and what differrnt is there between recover and embezzle all for them na thief them be
abeg.......... God dey
Posted: at 8-12-2009 03:12 PM (14 years ago) | Newbie
Reply
- teeco at 8-12-2009 06:15 PM (14 years ago)
(m)
Quote from: wizdum on 25-11-2009 10:39 AM
Nigeria is truly RICH!

weytin you think b4

Posted: at 8-12-2009 06:15 PM (14 years ago) | Addicted Hero
Reply
- Ify9ja at 8-12-2009 06:33 PM (14 years ago)
(f)
Quote from: nametalkam on 25-11-2009 08:26 AM
Swiss authorities yesterday convicted Abba, one of the sons of the late military dictator, General Sani Abacha, for graft and ordered $350 million worth of assets to be seized from him.

"The first order of the sentence issued yesterday by the examining magistrate found that Abba Abacha, born November 9, 1968, son of the late General Sani Abacha, was guilty of participation in a criminal organisation," Geneva Canton's justice office said in a statement.

It said the examining magistrate sentenced Abba to a suspended jail term and ordered the confiscation of his assets worth $350 million “which is held by his criminal organisation and seized through international assistance in Luxembourg and the Bahamas.”

Agency reports say the court was not immediately available for comment on the duration of Abba’s suspended jail sentence.

In yesterday's statement, the Swiss authorities also said they had convicted a financial intermediary who is currently domiciled in the Principality of Monaco, for having been part of the “criminal organisation” run by the Abacha clan.

The person, who was not named, has been sentenced to pay an unspecified fine.

“The person has also been ordered to pay the Canton of Geneva 10 million Swiss Francs -- which corresponds to illegal gains obtained from these culpable activities," added the statement.

General Abacha, who died in June 1998, is suspected of having siphoned over $3 billion from Nige-rian between his coming to power in November 1993 and his death four-and-a-half years later.

Some $700 million of his loot, which was stashed in Swiss banks, have since been returned by Switzerland to Nigerian authorities.

The General Abdulsalami Abubakar and later, Olusegun Obasanjo regime had put pressure on the Swiss government in a bid to recover an estimated $3 billion in embezzled state funds sent abroad by Abacha during his four and half-year rule.

Abacha used a circle of family members, close aides and business associates to transfer the loot.

At Nigeria's request, Switzerland froze hundreds of millions of dollars held there, as have Luxembourg and Liechtenstein.

Between 1999 and 2007, the Obasanjo government succeeded in recovering about $700 million of the looted money from the Swiss government.

Recently, several leading banks in Switzerland have been criticised by the country's regulators for accepting money from the Abacha family

In a 2002 report, the Swiss Federal Banking Commission said 19 banks had dealings with Abacha and did not report suspicions of money laundering to the Swiss authorities.

Six banks - three branches of Crédit Suisse Plus, Crédit Agricole Indosuez, Union Bancaire Privée and MM Warburg - were singled out for failing to run adequate checks on new accounts, including those opened by General Abacha's two sons.

“The mere fact that significant assets of dubious origin, from people close to former Nigerian President Sani Abacha, were deposited at Swiss banks is highly unsatisfactory and damages the image of Switzerland as a financial centre,” Banking Commission chairman Kurt Hauri said in 2002 after a 10-month investigation.

The commission said that almost a third of the Abacha money deposited with Swiss banks had first been banked in the UK, United States and Austria.

Are you kidding me.  It took them this long before acting.  After years of Nigerians telling them that Abacha left billions of nigerian money in their account.  Now they decided to do something about it, after the money benefited their country.  Eeh.  Okay now, wetin happen to the money?  when we'll nigerians see the money? when we see am that's when i'll rejoice.  It still pissing me off that it took them this long to act on a statement nigerians have been screamingo n the top of our lungs for years. Almost a decade now smechh
Posted: at 8-12-2009 06:33 PM (14 years ago) | Upcoming
Reply
- teeco at 8-12-2009 06:48 PM (14 years ago)
(m)
na waa oh

Posted: at 8-12-2009 06:48 PM (14 years ago) | Addicted Hero
Reply
- shine1177 at 9-12-2009 04:07 PM (14 years ago)
(m)
Naija will still arise again!

Posted: at 9-12-2009 04:07 PM (14 years ago) | Upcoming
Reply
1 [2] 3

fire TRENDING GISTS fire

TODAY'S TOP
  1. Girl Dies After Gunmen Rob, Push Her Off Moving Tricycle In Delta

  2. Renowned Rapper Odumodublvck Opens Up About Drug Use During His UnderG Days At UNILAG (Video)

  3. Six ACU Students Arrested For Beating Mate, Alex Timileyin To Death Over Phone Theft

  4. Renowned Nigerian Comedian, Destalker Reveals Shocking Reason For Quitting As A Pallbearer

  5. BREAKING! Tragedy Strikes As Mosque Collapses During Prayers In Lagos (Photos)

  6. Renewed Protests Erupt In Kano Amid Emirate Turmoil (Video)

  7. Highway Travellers Abducted In Ekiti State: Gunmen Strike, 18 Victims Taken

  8. TRAGIC LOSS! Two Kogi Students Killed By Terrorists Over Failure To Pay Ransom

  9. UPDATE! 11-Year-Old Girl Confirmed Dead In Lagos Mosque Collapse, Rescue Efforts Ongoing

  10. Delta State Polytechnic Accountant, Oviri Onorigho Arrested For Possession Of Illegal Firearm

  11. Man, Etinosa Aiguokun Arrested For Killing Father & Stepmother With Pestle In Edo State

  12. Bandits Murder ECWA Pastor, Joshua Musa Despite Ransom Payment In Niger State

  13. Police Apprehend Armed Robbery Suspect, David Samuel In Nasarawa State

  14. Fatal Road Accident Claims Four Lives Along Sagamu-Ikorodu Route

  15. Two Suspected Kidnappers, Ahmed Audu & Adebayo Abayomi Apprehended In Jigawa State

  16. Akwa Ibom Police Arrest Four Suspected Kidnappers In Military Attire, Rescue Victims

  17. Three Arrested For Attempting To Smuggle Drugs Hidden In Bread To Detainee (Photo)


THIS WEEK
  1. Footballer,Kayode Olanrewaju's 3 Children Allegedly Belongs To Pastor Adegboyega As DNA Reveals

  2. Footballer,Kayode Olanrewaju's Wife, Dora Breaks Silence On Allegations Of Paternity Fraud

  3. Tensions Rise As South Africans Celebrate The Killings Of Six Nigerians In Viral Video

  4. Harrysong Threatens To Expose Evil Deeds Done By His Ex-Wife, KCee, Destiny Etiko & Her Mother

  5. "It Is Not By Being Muscular"-Blessing Okoro Threatens To Beat Up Verydarkman Amid Ongoing Feud

  6. Zack Orji Reflects On How His Marriage Nearly Crashed Due To Movie Scene With Eucharia Anunobi

  7. Amsterdam Police Detain Singer, Nicki Minaj For "Carrying Drugs" (Videos)

  8. Deposed Emir Of Kano, Aminu Ado-Bayero, Breaks Silence Over Emirate Dispute

  9. Mystery Surrounds Young Lady's Bizarre Behavior After Being Dropped By Roadside In Ibadan (Vid)

  10. Flood Ravages INEC Office In Benin, Damages Voter Registration Equipment (Photos)


TOP MEMBERS: