#BBB NEWS| Court Fines Igbinedion N3m For N25bn Scam

In a scandalous replay of the episode, a few years back, when Justice Abdullahi Kafarati, then of the Federal High Court Enugu,  offered an option of N3.5million fine to Lucky Igbinedion, former governor of Edo State for corruption offences, his younger brother, Michael Igbinedion who is being prosecuted by the Economic and Financial Crimes Commission, EFCC for siphoning N25billion from the Edo state treasury during the period his elder brother held the reins as chief executive, today received a fine of N3million from Justice J. Liman of the Federal High Court, Benin.

The anti-climactic denouement to a trial that was marked by a series of drama and unconscionable adjournments became ominous Wednesday April 29, 2015 when the trial judge failed to sentence the accused persons having found them guilty on some of the charges in the 81-count information preferred against them by the EFCC. Instead, he fixed the sentencing for the next day, April 30, 2015 but it was clear the direction the pendulum was going to swing, as the two accused persons, Charles Eboigbodin, personal assistant to Lucky Igbinedion and Michael Igbinedion, though allegedly committed the same offence of money laundering, were  however convicted on different counts.

#BBB NEWS| Money Laundering: Igbinedion Gets Six Year Jail Term

Justice Muhammed Lima of Benin division of Federal High Court on Thursday sentenced Michael Igbinedion, son of Gabriel Igbinedion, a Benin based billionaire to six years imprisonment over alleged laundering of N25 billion fund belonging to Edo state government.

Justice Lima also sentenced Patrick Eboigbodin, an aide to the former governor Lucky Igbinedion to 20 years imprisonment, in addition to a fine of N250,000 on a 10-count charge.

Michael Igbinedion, a younger brother to former governor Lucky Igbinedion, was sentenced to two years imprisonment on each of the three count charges. He was however given an option N3 million fine.

All the jail terms of the convicts are to run concurrently.

PML Securities Limited, one of the companies allegedly used by the convicts to launder the funds, was ordered to fold up and forfeit all its assets to the federal government.