WE WERE CHALLENGED TO JUSTIFY WHY WE ARE PICKING ON ATIKU BAGUDU, ON ISSUES OF CORRUPTION. HERE IS JUST A SAMPLE OF ONE OF HIS CRIMINAL CASES. OTHERS TO FOLLOW... Case l:13-cv-01832-JDB Document 1 Filed 11/18/13 Page 4 of 42 I. INTRODUCTION This is an action in rem to forfeit corporate entities and more than $500 million in other assets involved in an international conspiracy to launder proceeds of corruption in Nigeria during the military regime of General General his son Mohammed Sani Abacha, their associate Abubakar Atiku Bagudu, and others embezzled, misappropriated, defrauded, and extorted hundreds of millions of dollars from the government of Nigeria and others, including through the three criminal schemes described herein. They then transported and laundered the proceeds of those crimes through conduct in and affecting the United States. The defendants in rem are subject to forfeiture as property involved in money laundering offenses in violation of U.S. law. 2. As alleged herein, in one scheme, General Abacha, together with Mohammed Sani Abacha, Bagudu, and others, systematically embezzled public funds worth billions of dollars from the Central Bank of Nigeria (CBN) on the false pretense that the funds were necessary for national security. After causing the CBN to disperse the funds, often in cash, General Abacha and Bagudu then moved the funds overseas, including through U.S. financial institutions (the Security Votes Fraud). In another scheme, General Abacha and his finance minister, Anthony Ani, caused the government of Nigeria to purchase non-performing government debt from a company controlled by Bagudu and Mohammed Abacha at vastly inflated prices, generating a windfall of over $282 million for Mohammed Abacha and Bagudu through U.S. financial transactions (the Debt Buy-Back Fraud). Finally, in the third scheme alleged herein, General Abacha and his associates extorted more than million from a French company and its Nigerian affiliate in connection with payments on government contracts (the Extortion). 4 Case l:13-cv-01832-JDB Document 1 Filed 11/18/13 Page 5 of 42 3. Proceeds of the Security Votes Fraud were transported into and out of the United States in violation of U.S. law and pooled into bank accounts in London, where they were used to purchase hundreds of millions of dollars of U.S. dollar-denominated Nigerian bonds. The bonds generated tens of millions of dollars in interest paid through Citibank in New York and guaranteed by the United States; in effect the conspirators lent money stolen from Nigeria back to Nigeria with zero risk and at enormous profit. By 2007, the bonds were liquidated, and the proceeds from the sale of the bonds, together with the proceeds of the Debt Buy-Back Fraud and Extortion, were deposited into the defendant accounts, using the defendant corporate entities and through U.S. financial transactions, as described herein. The defendant corporate entities are registered in the British Virgin Islands, and bank accounts and investment firms holding the other defendant assets are located in the United Kingdom, France, and the Bailiwick of Jersey. II. THE DEFENDANTS IN REM 4. By this Complaint, the United States seeks forfeiture of all right, title, and interest in the following property: (a) All assets held in account number 80020796, in the name of Doraville Properties located at Deutsche Bank International Limited in the Bailiwick of Jersey, and all interest, benefits, or assets traceable thereto. These assets were last valued at approximately $287 million; (b) All assets held in account number in the name of Mohammed Sani, at HSBC Fund Administration (Jersey) Limited in the Bailiwick of Jersey, and all interest, benefits, or assets traceable thereto.2 These assets were last valued at approximately million; (c) All assets held in account number 223405880IUSD, in the name of International, S.A., at Banque SBA in Paris, France, and all For ease of reading, the defendants in rem appear in bold throughout this Complaint. HSBC Fund Administration was formerly Midland Bank Offshore Limited. 5 Case l:13-cv-01832-JDB Document 1 Filed 11/18/13 Page 6 of 42 interest, benefits, or assets traceable thereto. These assets were last valued at approximately $1 million; (d) 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. These assets were last valued at approximately million; (e) All assets held in account numbers 100130688 and 100138409, in the name of Mecosta Securities, at Standard Bank in the United Kingdom, and all interest, benefits, or assets traceable thereto. These assets were last valued at approximately £21.7 million; All assets held at HSBC Life (Europe) formerly held in account number 37060762 in the name of Mohammed Sani at Midland Life International Limited, and all interest, benefits or assets traceable thereto;3 (g) All assets in account number 38175076, in the name of Mohammed Sani, at HSBC Bank and all interest, benefits, or traceable thereto. These assets were last valued at approximately $1.6 million; (h) 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. Investment Management Limited in the United Kingdom, and all interest, benefits, or assets traceable thereto. These assets were last valued at approximately €6,806,900; (i) All assets held in 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 interest, benefits, or assets traceable thereto. These assets were last valued at approximately WANT TO READ THE FULL TEXT, Please go to: https://facebook/groups/kebbistatedotcom
Posted on: Wed, 17 Dec 2014 22:08:48 +0000
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