60 false security votes letters: America tells Nigerians how Abacha stole over $2,000,000,000... The United States Government has shed a bit more light on the sweep former head of State, late General Sani Abacha performed on Central Bank of Nigeria (CBN), to the tune of $2 billion. How did he do it? False security votes letters, presented to the country’s apex bank. The court document filed by the United States Department in the District and Bankruptcy Courts for the District of Columbia said in part, “Abacha together with Mohammed Sani Abacha, Bagudu and others, systematically embezzled public funds worth billions of dollars from the CBN on the pretext that the funds were necessary for national security. After causing the CBN to release the funds, often in cash, Gen. Abacha and Bagudu then moved the funds overseas, including through US financial institutions (the Security Votes Fraud). “Over 60 false security votes letters were addressed to and endorsed by Gen. Abacha, each of which resulted in the withdrawal of Nigeria’s public funds from the CBN. Subsequently, the funds were deposited into accounts controlled by, or used to purchase assets for the benefit of, Gen. Abacha, Bagudu or other members of the conspiracy.” Samples of some the false letters raised by a former National Security Adviser, Aliyu Ismaila Gwarzo (all approved by the former Head of State) include: “By letter, dated June 2, 1994, Gwarzo falsely stated: “In view of the ongoing negative campaign against this country, a small international operation has been mounted to cover it. Please approve as a matter of urgency, the sum of $5million for this operation “By letter dated November 30, 1994, Gwarzo falsely stated:$100m requested to combat an economy that was deflected and distorted through the black market. “By letter, dated August 20, 1996, Gwarzo falsely stated: “In light of the current political situation in the country, coupled with the increase in security operations, there is need for a lot of funds to handle the challenges outlined above such that I require N350million plus $30million and 15million pounds. Please consider the desperate need and approve. More than $700million of the money was delivered to Mohammed Abacha in bags or boxes full of cash. The document added: “Shortly after Gen. Abacha’s death, the government of Nigeria established a Special Investigation Panel(SIP), which found that Gen. Abacha and his co-conspirators had used false security votes letters to steal and defraud more than $2billion in public funds, including: (1) at least $1.1billion and £ 413 million (GBP) in cash(2) at least $50,465,450 and £ 3,500,000 GBP in traveller’s cheques; and (3) at least $386, 290, 169 through wire transfers. 16 accounts and assets to be forfeited by Gen. Abacha and his associates (as sought by the prosecutor) include “The properties sought to be forfeited by U.S. authorities include the following assets (collectively, the Defendant Properties): •All assets held in account number 80020796, in the name of Doraville Properties Corporation, located at Deutsche Bank International Limited in the Bailwick of Jersey, and all interests, benefits, or assets traceable thereto; •All assets held in account number S-104460, in the name of Mohammed Sani, at HSBC Fund Administration (Jersey) Limited in the Bailwick of Jersey, and all interest benefits, or assets traceable thereto; •All assets held in account number 223405880IUSD, in the name of Rayville International, S.A, at Banque SBA in Paris, France and all interest benefits or assets traceable thereto; •All assets held in account number 223406510PUSD, in the name of Standard Alliance Financial Services Limited located at Banque SBA in Paris, France and all interest benefits, or assets traceable thereto; •All assets held in account numbers 10030688 and 100138409, in the name of Mecosta Securities, at Standard Bank in the United Kingdom, and all interests, benefits or assets traceable thereto; •All assets held in HSBC Life (Europe) formerly held in account number 37060762 in the name of Mohammed Sani at Midland Life International Limited, and all interests, benefits or asset traceable thereto; •All assets in account number 38175076, in the name of Mohammed Sani, at HSBC Bank Plc, and all interests, benefits or assets traceable thereto; •All assets held in the name of Blue Holding (1) Pte. Ltd., on behalf of or traceable to Ridley Group Limited and/or the Ridley Trust, at J.O Hambro Investment Management Limited in the United Kingdom and all interests, benefits, or assets traceable thereto; •All assets held in the name of Blue Holding (2) Pte. Ltd., on behalf of or traceable to Ridley Group Limited and/or the Ridley Trust, at J.O Hambro Investment Management Limited in the United Kingdom and all interests, benefits or assets traceable thereto; •All assets held in the name of Blue Holding (1) Pte. Ltd., on behalf of or traceable to Ridley Group Limited and/or the Ridley Trust, at James Hambro and Partners LLP, in the United Kingdom, and all interests, benefits or assets traceable thereto; •All assets held in the name of Blue Holding (2) Pte. Ltd., on behalf of or traceable to Ridley Group Limited and/or the Ridley Trust, at James Hambro and Partners LLP, in the United Kingdom and all interests, benefits or assets traceable thereto; •Doraville Properties Corporation, a corporate entity registered in the British Virgin Islands, together with all its assets and all property traceable thereto; •Mecosta Securities, Inc., a corporate entity registered in the British Virgin Islands, together with all its assets and all property traceable thereto; •Rayville International, S.A, a corporate entity registered in the British Virgin Islands, together with all its assets and all property traceable thereto; •Ridley Group Limited, a corporate entity registered in the British Virgin Islands, together with all its assets and all property traceable thereto; and •Standard Alliance Financial Services Limited, a corporate entity registered in the British Virgin Islands, together with all its assets and all property traceable thereto. Warrants of arrest for the properties have been issued (16 of them), and the prosecutor also wants the warrants enforced in France, Jersey, British Virgin Islands and the United Kingdom.
Posted on: Sat, 22 Mar 2014 12:00:35 +0000