EFCC arrests Lucky Igbinedion for alleged $ 1.6 billion fraud

EFCC arrests Lucky Igbinedion for alleged $ 1.6 billion fraud

Lucky Igbinedion, a former inmate, faces new allegations of hijacking Edo State funds to pay off the debt of a company he was said to have an interest in.

The Commission on Economic and Financial Crimes (EFCC) has arrested a former governor of the state of Edo, Lucky Igbinedion, for allegedly criminal diversion of public funds in the amount of 1.6 billion N.

Leading sources with direct knowledge of the case, but not authorized to speak publicly, said the former governor was questioned by investigators at the EFCC headquarters in Jabi, Abuja.

The former governor reportedly arrived at the commission headquarters at around 2pm. and he was still under interrogation at the time this report was presented.

Shortly after his exit as governor in 2007, Igbinedion was prosecuted by the EFCC and convicted of corruption.

But the new investigation, according to sources, is based on new evidence that the former governor hijacked a loan obtained by the Edo state government to pay off the debt of a company in which he was said to have an interest.

Wilson Uwujaren, spokesman for the commission, confirmed the former governor’s invitation but declined further comments.

The former convict Mr. Igbinedion, governor of the state of Edo from 1999 to 2007, was convicted of embezzlement of 2.9 billion N2, belonging to the state in December 2008.

Following a plea deal with the EFCC, the 191 charges were reduced to a single count for which Mr. Igbinedion pleaded guilty.

In exchange for his guilty plea, the Enugu Federal High Court sentenced him to six months’ imprisonment with an option of N3.5 million in fines.

The judge, Abdu Kafarati, now deceased, also ordered the confiscation of the N500 million and three properties, including one in Abuja, were seized from him.

The EFCC, in reaction to the verdict, expressed its dissatisfaction with the option of the fine given to the former governor.

Source: – Premium Times

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