Ghanaian banker, Ellias Preko who helped James Ibori launder money in offshore accounts has been fined N3.2billion by UK court

September 3, 2019   |   by Papngblog Reporter

Ellias Preko, a Ghanaian and former Goldman Sachs banker, who helped James Ibori, former governor of Delta, launder money in offshore accounts, has been ordered by a UK court to pay back £7.3m(N3.2 billion) to the British treasury or face 10 more years in jail.     The order was slammed on Preko on Monday, September 2nd by Judge David Tomlison, following a confiscation hearing. Preko has three months to repay the money or he will return to jail. He was jailed for four and a half years back in 2013 for his role in the James Ibori scheme.  Preko, a Harvard graduate, who is now 60 years old was believed to have abused his ‘gold-plated credentials’ to launder at least £3m plundered by Ibori, from Delta state treasury. Ibori, who governed Delta between 1999 and 2007 was estimated to have pocketed up to £160 million from government treasuries, depriving the state’s poor of the cash. Preko, who represented himself, told the court in a previous hearing that much of the cash had been spent on election campaigning back in his native Ghana. He said he had run as a candidate for the centre-right NPP party back in the mid-2000s. Preko explained that Ghana is predominantly a cash based society and that few receipts exist for his campaign spending.The post Ghanaian banker, Ellias Prekowho helped James Iborilaunder money in offshore accounts has been fined N3.2billion by UK court appeared first on Linda Ikeji Blog.

Recent Comments

  1. Yusuff Rildwan

    Yusuff Rildwan

    September 3, 2019 @ 6:19 am

    That is where law is

  2. Avatar

    Adekunle Adedolapo

    September 7, 2019 @ 5:19 pm

    That serves him right

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