Nigerian Federal High Court orders closure of 2 companies linked to $9.6bn P&ID fraud case, found guilty of money laundering; assets forfeited to federal gov't.
A Nigerian Federal High Court has ordered the closure of two companies linked to the $9.6bn Process and Industrial Development (P&ID) fraud case. The companies, Trinity Biotech Nigeria Limited and Resorts Express Concept Nigeria Ltd, were found guilty of money laundering offenses and have been ordered to be wound up, with their assets forfeited to the federal government. The Economic and Financial Crimes Commission (EFCC) is prosecuting the companies and their director, James Nolan, a British national who is currently at large.
July 03, 2024
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