Michael Igbinedion and accomplice convicted of N25billion scam

A Federal high court sitting in Benin city, Edo state convicted Michael Igbinedion, the younger brother of former Edo state governor, Lucky Igbinedion and one Charles Eboigbodin over a N25bn money laundering scam yesterday April 29th.

The duo and their firms: Gava Corporation Limited; Romrig Nigeria Limited; PML Securities Company Limited and PML Nigeria Limited, were dragged before the court by EFCC over an 81-count charge of alleged money laundering, misappropriation of funds and abuse of office. The presiding judge, Justice Liman while delivering his judgement said the two accused persons were guilty as charged on some of the counts. The judge convicted Eboigbodin for money laundering on counts 50-59, while Igbinedion was adjudged guilty as charged on counts 79-81. Justice Liman however deferred the sentencing of the convicts till today April 30th.

The convicts had earlier pleaded not guilty when they were arraigned, setting the stage for a full trial. In the course of trial, the prosecution called several witnesses to prove its case.