SkullMinerSW:
Former vice president Atiku Abubakar has for a long time been challenging Nigerians who accused him of being corrupt to come forward and prove it. So far nobody has come forward.

Well, has received a report on how Atiku was the subject of a probe ten years ago, by a United States Senate Permanent Subcommittee on Investigations, chaired by Senator Carl Levin.

The report detailed how Atiku Abubakar while still the vice president of Nigeria between 2000 and 2008, used offshore companies to siphon millions of dollars to his fourth wife in the United States, Jennifer Douglas.

Specifically, the report said Jennifer Douglas, an American citizen, helped her husband bring over $40 million in suspect funds into the United States through wire transfers sent by offshore corporations to U.S. bank accounts.

In 2004, the then President Bush barred Atiku and other corrupt politically exposed persons from being issued visa to the United States.

The US Senate probe was motivated by US government concern about corruption in the Third World and its corrosive effects on the development of honest government, democratic principles, and the rule of law.

“It is also blamed for distorting markets, deterring investment, deepening poverty, undermining international aid efforts, and fostering crime. Some have drawn connections between corruption, failed states, and terrorism. Corruption also continues to be a massive problem. The World Bank has estimated that $1 trillion in bribes alone exchange hands worldwide each year,” the committee noted in its bulky report.

Atiku was not the only foreign Politically Exposed Person(PEP) probed by the committee. He had company in Teodoro Nguema Obiang Mangue, now the 48-year-old son of Teodoro Nguema Obiang Mbasogo, the President of Equatorial Guinea (EG), late President of Gabon, Omar Bongo and three Angolan PEP accounts, involving an Angolan arms dealer, an Angolan government official, and a small Angolan private bank.

The committee submitted its report on 4 February 2010, three years after Atiku left office.

The report unveiled violations of US laws by Atiku and his fourth wife, Jennifer Douglas. It also included revelations about Siemens bribe paid into one of the accounts, and it possibly provided the basis for Atiku being barred from entering the United States, since then.

This Report examines how politically powerful foreign officials, their relatives, and close associates – referred to in international agreements as Politically Exposed Persons (PEPs) – have used the services of U.S. professionals and financial institutions to bring large amounts of suspect funds into the United States to advance their interests. Using four case histories, this Report shows how some PEPs have used U.S. lawyers, real estate and escrow agents, lobbyists, bankers, and even university officials, to circumvent U.S. anti-money laundering and anti- corruption safeguards. This Report also offers recommendations to stop the abuses.

Here is a summary of the report:
Atiku Case History.
From 2000 to 2008, Jennifer Douglas, a U.S. citizen and the fourth wife of Atiku Abubakar, former Vice President and former candidate for President of Nigeria, helped her husband bring over $40 million in suspect funds into the United States through wire transfers sent by offshore corporations to U.S. bank accounts.

In a 2008 civil complaint, the U.S. Securities and Exchange Commission alleged that Ms. Douglas received over $2 million in bribe payments in 2001 and 2002, from Siemens AG, a major German corporation.

While Ms. Douglas denies wrongdoing, Siemens has already pleaded guilty to U.S. criminal charges and settled civil charges related to bribery and told the Subcommittee that it sent the payments to one of her U.S. accounts.

In 2007, Mr. Atiku was the subject of corruption allegations in Nigeria related to the Petroleum Technology Development Fund.

Of the $40 million in suspect funds, $25 million was wire transferred by offshore corporations into more than 30 U.S. bank accounts opened by Ms. Douglas, primarily by Guernsey Trust Company Nigeria Ltd., LetsGo Ltd. Inc., and Sima Holding Ltd.

The U.S. banks maintaining those accounts were, at times, unaware of her PEP status, and they allowed multiple, large offshore wire transfers into her accounts. As each bank began to question the offshore wire transfers, Ms. Douglas indicated that all of the funds came from her husband and professed little familiarity with the offshore corporations actually sending her money.

When one bank closed her account due to the offshore wire transfers, her lawyer helped convince other banks to provide a new account. In addition, two of the offshore corporations wire transferred about $14 million over five years to American University in Washington, D.C., to pay for consulting services related to the development of a Nigerian university founded by Mr. Atiku Abubakar.

American University accepted the wire transfers without asking about the identity of the offshore corporations or the source of their funds, because under current law, the University had no legal obligation to inquire.

Executive Summary

Combating corruption is a key U.S. value and goal, due to its corrosive effects on the rule of law, economic development, and democratic principles. In 2001, the Patriot Act made the acceptance of foreign corruption proceeds a U.S. money laundering offense for the first time, and required banks to apply enhanced scrutiny to private banking accounts opened for senior foreign political figures, their relatives, and close associates. In 2003, the United States supported the United Nations Convention Against Corruption, now ratified by over 140 countries. Also in 2003, U.S. Immigration and Customs Enforcement (ICE) formed an investigative group dedicated to combating foreign corruption by PEPs. In 2004, President Bush issued Presidential Proclamation 7750 denying U.S. visas to foreign officials involved with corruption, and Congress later enacted supporting legislation. A 2009 study sponsored by the World Bank analyzed PEP controls worldwide and recommended stronger measures to reduce corruption.

The Permanent Subcommittee on Investigations (Subcommittee) initiated this investigation to learn how U.S. laws apply to PEPs utilizing the domestic financial system, and examine how foreign senior political figures, their relatives, and close associates may be circumventing or undermining anti-money laundering (AML) and PEP controls to bring funds that may be the product of foreign corruption into the United States. It is the latest in a series of Subcommittee hearings examining foreign corruption and its U.S. aiders and abettors.

During the course of its investigation, the Subcommittee staff conducted over 100 interviews, including interviews of lawyers, real estate agents, escrow agents, lobbyists, bankers, university professionals, and government officials. The Subcommittee issued over 50 subpoenas and reviewed millions of pages of documents, including bank records, correspondence, contracts, emails, property records, flight records, news articles, and court pleadings. In addition, the Subcommittee consulted with foreign officials, international organizations, financial regulators, and experts in anti-money laundering and anti-corruption efforts.

Source
https://www.pmnewsnigeria.com/2017/12/03/corruption-us-senate-report-finally-nailed-atiku-abubakar/

crispus09:

Atiku and tinubu have milking Nigeria since God knows when

headSmasher:
Which jay jay okocha ? the one accused of tax invasion? which Linda ikeji are you talking about? the hypocrite that gave birth outside wedlock, the unarmed robber that collected #250 million from Jonathan, the fornicator that her source of wealth are shrouded in mystery? all those you mentioned has dents on their names.

oyatz:




Okay, join the presidential race. We will support you.

2023: vote HeadSmasher for president.

Thanksful:


You sound like a fool.

SkullMinerSW:

We have to be weary of bribe takers and money launderers desperate for power and shouldn't fall for their fake tears.

We have learnt a bitter lesson from the corrupt and useless Buhari.

Thanksful:


Can you name one person that hasn't taken bribe or used his influence, position or talent in a corrupt way including yourself.

SkullMinerSW:

I was born into Deeper Life Bible Church and my Dad was a Pastor, he never collected bribe or used his position or talent in a corrupt way.

True Christians, Muslims and people with ethics will never collect any bribe or engage in any type of corrupt enrichment. Look at IBB with all his looted billions of dollars he is still confined to a wheel chair.

Thanksful:


I didn't say your father. Have you not used your position to favor someone before.

SkullMinerSW:

I am not a saint and will admit in my younger years I was corrupted by the system. I have been clean for more than 15 years.

Nigerians are willing to support people that will change. We know none of these politicians are changed men and will continue to erode whatever is left of our value system. Shagari and IBB were the major ones that started the rot we see today.

The rot needs to be tamed, before we reach a point of no return.

Thanksful:


How do you want us to believe you are a changed person and not want us to believe that others have changed too?

Thanksful:


How do you want us to believe you are a changed person and not want us to believe that others have changed too?

SkullMinerSW:

Those who are changed will recognize corruption is the major issue in Nigeria and not relegate it to the background.

SkullMinerSW:

Through my actions and changing the way I do things. One man I can say may have changed after his stint in jail is Bode George.

He has now become an apostle against corruption and a lone voice in the wilderness.

Thanksful:


What's corruption first?

SkullMinerSW:
Atiku said he will privatize NNPC. Nigerians forgot what this man did when he was in charge of privatisation under OBJ.

He will sell NNPC to himself through fronts.

Thanksful:


What are the actions that show you are changed?

SkullMinerSW:
Who is more corrupt between Atiku and Tinubu?

amc:


They are both corrupt and shouldn’t be allowed to get into Aso Rock.

Laggafin:
Yes we in year of political blackmail and indictments,, As they opening Atikus corrupt files.,, They should also open the files of the bullion van professor in bourdillon too

Tap0lane:
Plus Peter Peter Obi.

SkullMinerSW:

Speaking out against corruption like Bode George and following all rules and regulations in every establishment I have worked. Not circumventing any rules or trying to get rich through illegal means.

Trying to get rich through many legitimate ways.

Thanksful:


Such a funny thing.

Poor people always think they are incorruptible until they are put in a position of great power and wealth.

SkullMinerSW:

I can never be like Ikpeazu. I am satisfied with my status and can never loot public funds despite the temptation and ease in Nigeria.

I was brought up to be satisfied with what I have and never envy my neighbours that drove flashy cars as a result of corruption or bribery.

Thanksful:


Have control 10 million before on a monthly basis for at least a year?

If you haven't, you aren't incorruptible.

SkullMinerSW:

No I haven't, I know I will withstand the temptation if the time comes. My father controlled more than $50 million dollars budget a year and never stole or collected bribes. That is what happens when you fear God and are a Pastor.

Thanksful:


If I was talking with your father I would have asked him personal and direct questions. Stop defending, defaming or supporting what you are or were not part of.

NaijaRoyalty:


Very Old News

This lies won't sell this time so stop wasting your time

The north don't even care about your stale news . They will vote enmasse for Atiku

SkullMinerSW:

Those that fear God are not concerned with earthly possessions but salvation of their soul.

CC

Righteousness2

SkullMinerSW:
Who is more corrupt between Atiku and Tinubu?

SkullMinerSW:
Who is more corrupt between Atiku and Tinubu?