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UK: James Ibori’s Banker Ordered To Pay £7.3m Or Face 10 Years In Jail

By Published September 06, 2019

A Ghanaian former Goldman Sachs banker who helped convicted ex Nigerian governor, James Ibori hide looted funds in offshore accounts has been ordered to pay back £7.3m or face 10 years more in jail.

60-year-old Ellias Preko who had served a four and a half years’ jail term back in 2013 for his role in the fraud has now been ordered by Judge David Tomlison to pay back £7,324.268.41 in three months following a confiscation hearing.

Preko’s plea to the court that much of the cash had been spent on election campaigning back in his native Ghana where he ran as a candidate for the centre-right NPP party back in the mid-2000s.

Preko explained that Ghana is predominantly a cash-based society and that few receipts exist for his campaign spending.

Ibori was jailed for 13 years in 2012 after he admitted to stealing £160 million state funds during his two terms in office as governor of Delta state in Nigeria.

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