Just recently, the U.S. Justice Department seized over $480 million in assets, hidden from all over the globe, by ex-Nigerian military dictator, Sani Abacha, and his acquaintances.
U.S. official said the financial haul was the biggest forfeiture ever obtained via a kleptocracy process.
U.S. Judge John Bates’ judgement in a Washington court follows up on an asset forfeiture complaint filed last year by the U.S. Justice Department, which alleged Abacha, his son, and associates, to have misappropriated, embezzled, and extorted billions of dollars from the Nigerian government. The money was then laundered via U.S. banks and converted to U.S.-backed bonds.
Nigeria been trying for years since the dictator’s death in 1998 in recovering stolen assets which was laundered through banks all over the world.
The judgment consisted of $303 million in a couple bank accounts in Bailiwick of Jersey, $144 million from two French-based accounts, and several accounts in Ireland and the U.K. with an estimated value of $27 million.