Money Laundering Earns Nigerian Oil Baron Walter Wagbatsoma Three Years Jail Term In UK


He never knew that so large a fortune could have so short a lease. When he did, he had been mowed to rubble by the wheels of vanity. As you read, the truth dawns on Walter Wagbatsoma, the owner of Ontario Oil an Gas Limited, making him understand that fortune and status are nothing but mirage.

That is why too many people engage in desperate pursuit of it and end up in a shameful form. This tragic transformation applies to Walter. Just some few years ago, Walter was a very big boy, commanding big and very lucrative businesses deals from the Nigerian National Petroleum Corporation (NNPC). Back then, he enjoyed an illustrious and highly rewarding business and personal relationship with Diezani Alison-Madueke.

Walter however, incurred the wrath of his very good friend, Diezani, in a very personal and acrimonious spat that left the duo estranged after what was termed in social ciruits, as a highly rewarding friendship. Following their estrangement from each other, Walter became the subject of inquiry in a high-powered anti-corruption probe.

However, following a trial at Leicester Crown Court a thirteenth defendant has been convicted of conspiracy to launder money in an international fraud and money laundering investigation.

This investigation was conducted by Lincolnshire Police Economic Crime Unit under Operation Tarlac, in which over £12m was defrauded from public bodies including hospital trusts, housing associations and councils around the UK.

Walter Wagbatsoma, 47, was originally detained on a European Arrest Warrant in June 2016 whilst travelling through Germany. He was extradited soon afterwards and charged with conspiring with others to launder the proceeds of fraud through his business interests in the UK.

The Nigerian businessman was today sentenced to 3 years and 6 months imprisonment for his part in the crime, he was also disqualified from being a company director for 6 years. Fraudulently obtained funds in the UK were laundered through an account in Dubai under the control of a co-conspirator Oluwatoyin Allison, a UK national who was convicted in his absence at an earlier trial in April 2017 and sentenced to seven years imprisonment. The funds were then transferred to Wagbatsoma’s account in the UK.

Wagbatsoma, an oil and gas businessman, was on trial in Nigeria at the time of his arrest for his part in a £1.9 billion oil subsidy fraud for which he was convicted and sentenced in his absence to 10-years imprisonment in January last year.

Source: thecapital

Comments

Post a Comment

Popular posts from this blog

Billionaire Akanimo Udofia Responsible For Oil Man Igho Sanomi's Crashed Marriage

Image
How The Erstwhile Brothers-in-Law Became Enemies Over Infidelity-based Allegations The marriage between billionaire oil magnate and philanthropist, Igho Charles Sanomi, and his wife, Eghonghon, has crashed. Eghonghon has moved out of her matrimonial home with the four children from the union, and has even filed for a divorce. Predictably, Sanomi, whose world revolves around his family, is distraught and devastated by this downward turn of event. Never would he, or even, Eghonghon, have thought that the love they had been nurturing from their college days, would come to such an abrupt end. Sources disclosed to The ELITES that the marriage between Sanomi and Eghonghon crashed as a result of myriad of problems, which was completely beyond the couple’s control. Somehow, the news of their crashed marriage was only known to just the couple’s families and close friends. Tragically too, the blame for the Sanomis’ crashed union, is being leveled on Akanimo Udofia, the billionaire busi...
Read more

Oba Elegushi's New Wife, Hadiza Won't Live Under Same Roof With Olori Aramide

Image
Hadiza, the new wife of Oba Saheed Ademola Elegushi would be living apart from first wife Olori Sekinat Aramide – for now. Sources confirmed that based on existing arrangement new wife Hadiza would be primarily based in Abuja with periodic visits to Lagos state. Young king Elegushi popularly known as King Gushi is the Elegushi of Ikate Land, which is one of the pieces of Lagos state. Sources disclosed that the reasons behind the strategy of King Gushi’s new wife, Hadiza opting to live apart from the first wife Seki are two folds. ‘’To protect her business and maintain the peace while the anger of the first wife cools off’’ societynow.ng learned. Olori Sekinat is said to have kicked very against Oba Elegushi’s marriage to Hadiza, the new Olori when she was informed. Sources disclosed Oba Elegushi had stayed well ahead of the consequence of his first wife’s anger -and strong opposition – by informing her of the plan to take a second wife when she could do little or nothing to st...
Read more

Single Mother Temitope Adesegun Is Ooni Ogunwusi's Soon-To-Be Wife

Image
Ooni of Ife, Adeyeye Enitan Ogunwusi has chosen his main heartthrob. And she is identified as “Tope Adesegun”. “The full name is actually Temitope Adesegun” a source disclosed. Light skinned and label a “beauty to behold”, the latest sweetheart of the leading monarch is said to have a two-year-old daughter. Details of the circumstances of the former life that transformed Tope into a single mother are sketchy. “But whatever she went through, it is obvious what she has going with the Ooni is far better” a source disclosed. Societynow.ng gathered that Tope pushes above heavy interests from quite a tidy number of other women to assume current status with the Ooni. Twice divorced – one before he became the Ooni – Oba Ogunwusi is “single” and has transformed the subject of intense wooing from women and family of all shades of colours. Source: Societynow
Read more