₦airaland Forum

A criminal court in Cairo has sentenced Youssef Boutros-Ghali, the former Egyptian finance minister, to 30 years in prison on corruption charges.

Boutros-Ghali was tried in absentia and sentenced on Saturday for squandering $6m in public funds and abuse of other funds that he had access to.

The former minister, who is out of the country, has also been fined $11m (around 70m Egyptian pounds).

Boutros-Ghali has been on the run since February 11, the day Hosni Mubarak stepped down as president, and is on Interpol's wanted list.

The court found him guilty of having used 102 cars waiting in customs - including six luxury cars for personal use - in an action which "greatly harmed the financial interests" of their owners.

He was also found guilty of having used the finance ministry's resources for his personal electoral campaign, printing materials at the expense of the ministry.

Boutros-Ghali is one of a string of Mubarak-era ministers to face justice as part of a sweeping investigation into fraud by Egypt's new military rulers.

Mubarak is to face trial on August 3, along with his two sons Alaa and Gamal, accused of ordering the shooting of anti-government protesters during the January-February uprising and for fraud.

The once feared interior minister, Habib al-Adly, has been sentenced to 12 years for corruption and is facing a second trial over the killing of protesters.

violent:
the dude must be deluded

Bin Laden's daughter said she was there when her dad got shot.

Al-qaeda said Bin Laden was shot by US operatives.

a CIA agents says otherwise?

By SaharaReporters, New York

As officials of the Economic and Financial Crimes Commission get ready to interrogate outgoing Speaker Dimeji Bankole of the House of Representatives, Saharareporters has identified the United Bank of Africa domiciliary and local account numbers through which the legislator moved some $1 billion of stolen funds.

Two days ago, Saharareporters had broken the story about Mr. Bankole’s involvement in one of Nigeria’s biggest episodes of corruption. Following our report, an aide of Mr. Bankole’s told Saharareporters that the EFCC had finally summoned the former speaker to come to the agency’s headquarters tomorrow for interrogation.

Meanwhile, sources at UBA and EFCC disclosed to us that Mr. Bankole had used two account numbers for his massive money laundering schemes. One account, originally tagged “House Recurrent Account,” is numbered 0039-0070-0000-18, while the second has the number 0039-0050-0000-25. The second account was simply tagged "Office of the Speaker."

A source who is familiar with the case revealed that Mr. Bankole hijacked the domiciliary account "0039-0050-0000-25" and used it for personal purposes. In August 2008, Mr. Bankole forced the accountant at the National Assembly to withdraw his signature from the and then made one "Adenekan Gbadebo" the sole signatory.

SaharaReporters investigations show that the federal government, under both Umaru Yar'Adua and Goodluck Jonathan, paid huge sums of monies into the two accounts for Mr. Bankole who became the Speaker of the Lower House in 2007 after his predecessor, Patricia Etteh, was herself forced out on account of her excessive spending on her official quarters.

Our sources say several accounts are being held in trust for Mr. Bankole at UBA where he has been perpetrating these frauds, and where he seems to have enjoyed inside help at the topmost levels.

On January 24 2011, for instance, the Accountant General of the Federation deposited N15.389 billion into the "House Recurrent Account." Two days later, that money disappeared without trace.  On January 26, N5 billion was moved from the account, and on February 8, another N10 billion similarly disappeared.

The maze of Mr. Bankole’s financial maneuvers continued as the Speaker secured a N10.380 billion loan from the UBA with an interest rate of 15%, management fee of 1.0% and processing fee of 2.5%. Curiously, that “loan” essentially disappeared as soon as it was released. 

News of Mr. Bankole’s financial schemes soon leaked to some of his colleagues who became suspicious that he was involved in money laundering. A group of legislators led by Dino Melaye blew the whistle on Bankole’s scams.

Two aides of Mr. Bankole confirmed to SaharaReporters today that he has officially received an invitation to appear before the EFCC on Tuesday. He is expected to face EFCC investigators to explain how he personalized and defrauded the Nigerian state of hundreds of millions of dollars through several accounts opened at the UBA in 2008.

EFCC investigations show that Bankole has spent some of the corruptly acquired funds to commence construction of high profile properties and to purchase the 32-storey NITEL building in Lagos. He is currently developing a N7 billion resort in Akodo area of Lekki.

A source within the EFCC told SaharaReporters that their investigators were troubled that UBA has developed a notoriety for making controversial customer accounts in the bank to disappear. For instance, when the Minister of Transport, Yusuf Sulaiman, was found to be operating a UBA account through which stolen funds were being laundered, UBA cleverly wiped the account out of its system and then claimed the account did not exist.

Aides of Mr. Bankole said they could not confirm that Mr. Bankole will appear before the EFCC tomorrow. The outgoing speaker dodged a similar meeting last Thursday claiming to be busy with inauguration-related activity. Sources at the EFCC stated that President Goodluck Jonathan had asked the leadership of the agency to go soft with the embattled speaker.

Ibime:
Believe me, Waziri is just trying to shake them down for a small cut of their loot.

Waziri always does this, and this is the way she eats her own share of the national cake. I will eat my Fidel Castro hat if even one of these gentlemen face any jail time.

klas:
[size=18pt]Akala, family travel abroad[/size]


http://www.punchontheweb.com/Articl.aspx?theartic=Art201105294174396

PapaBrowne:
The best way to secure the future of your kids is to fix the rot in your own sphere of influence. The leaders that have failed your country have one brain, 2 hands and two legs just like you. If you feel our generation is hopeless, my big question to you is: what you gonna do about it?? Are you gonna keep whinning or you are gonna find ways to make an impact??
The countries that are better today are that way because the generations of their fathers did for their countries centuries ago what you are failing to do for your country today.

Its true our leaders have failed. But that is possible only because we have allowed them to fail!!

satani22:
This story must be authentic by at least 50%. Goodluck is not ready to fix this country. Hes as corrupt as corruptn itSelf

lepasharon:
why hausa?? honestly how many of us have seen a hausa man in london before It should be yoruba we are d majority we represent.

EFCC Discovers $1 billion In Speaker Bankole's Proxy Account In UBA, Jonathan Wades In To Halt His Arrest

https://www.saharareporters.com/sites/default/files/page_images/news/2011/bankole_1.jpg?1306598109
https://www.saharareporters.com/sites/default/files/page_images/news/2011/angele_oselukwe_uduak_akpa_isreal.jpg?1306598862
https://www.saharareporters.com/sites/default/files/uploads/Bankole_brothers_CAC.jpg
By SaharaReporters, New York

SaharaReporters’ investigation of the outgoing Speaker of the House of Representatives, Dimeji Bankole, has unearthed that he owns a startling $1 billion stashed away in a domiciliary account at the United Bank of Africa (UBA). Our investigations revealed that the account is being operated for Mr. Bankole by his Principal Officer, Morris Ekpeyong.

The account was opened in 2009 and had since been operated on behalf of Bankole by Mr. Ekpeyong.

Our investigation confirms that the 41-year old outgoing Speaker had diverted funds into the account from budgetary allocations to the House of Representatives.

Sources at the Economic and Financial Crimes Commission (EFCC) told SaharaReporters that their investigators were stunned by the massive scale of Mr. Bankole’s money laundering activities. Two officials of the anti-corruption agency as well as a source in the Presidency disclosed that President Goodluck Jonathan was standing in the way of the EFCC’s plan to arrest Mr. Bankole in response to his latest scandal financial scam as well as a spate of other money laundering activities in their docket.

The outgoing Speaker, who has made extensive real estate deals since he became Nigeria’s third most powerful man, is considered to be one of the most corrupt officials in public service today in Nigeria.

He has grown immensely rich as Speaker, routinely using a variety of proxies in his extensive deals. Through such willing individuals, he has bought several houses in South Africa and the US.

The outgoing Speaker, who was trounced in his reelection bid, also recently bought the 32-storey NITEL building in Lagos for N4 billion, and is the owner of a N7 billion hotel resort undergoing construction in the Akodo area of Lekki in Lagos.

Our investigations revealed that one of Mr. Bankole’s key and most trusted money-laundering pals is Ade Gbadebo, the son of the Alake of Egbaland. Our sources disclosed that Mr. Gbadebo has helped Bankole move about $500 million through several bank accounts.

The Speaker and his father also recently completed seven duplexes after he tore down his father's old house in Abeokuta.  Our investigations show that Mr. Bankole has built a huge mansion in Abeokuta that is completely hidden from the public through the use of tarps and construction covers.

In an investigative report in September 2010, Saharareporters had identified two ladies being used by Mr. Bankole in a N5 billion scam.  The women, Angela Oselukwu and Uduak Akpan Israel, are now fugitives and have been declared wanted by the EFCC. They were involved in stealing N5 billion from the Rural Electrification Agency (REA).

Speaker Bankole and his siblings used the two fugitive women to open accounts at the UBA. Payments were then made into the accounts for the benefit of four companies belonging to the Bankoles: Vulysteke Metallic Construction Ltd, Parthenon Acropolis Nig. Ltd, Complete Trade Nig. Ltd, Zobra Global Services Ltd and F-Plus Concept Ltd.

As Speaker, Mr. Bankole was also notoriously embroiled in a N2.3 billion car scam as well as the misuse of the N9 billion capital budget of the House for 2008/2009.

Last year, the EFCC boss announced that the commission had concluded its investigation of the issue and sent its report to the presidency, but nothing further was heard from the presidency.

Mr. Bankole is also currently entrapped in another scandal in which he used the House of Representatives as collateral to obtain a personal loan of N10 billion from UBA. The loan is yet to be accounted for. The EFCC summoned Mr. Bankole to appear for interrogation last Thursday, but he did not show up.  Instead, he sent a letter to the agency pleading that he was tied down by “inauguration” activities.

A baffling turn in the story is that the embattled Speaker has persuaded Mr. Goodluck Jonathan to order that the investigations against him be stopped. SaharaReporters learned today from different sources within the EFCC and the Presidency that Mr. Jonathan, who will be inaugurated tomorrow for a term of four years as President, assured the outgoing Speaker that he would prevail on the EFCC leadership to end the investigation against the speaker. 

Mr. Jonathan’s intervention on behalf of the speaker contradicts pledges he made during his presidential election campaigns. Mr. Jonathan had vowed never to interfere with the work of any anti-corruption bodies.

texazzpete:
Now, all I need is for someone to supply me with the following

1. Heavy Rain
2. LA Noire
3. Mortal Kombat (2011)
4. Bayonetta
5. Crysis 2


Reasonable prices, please. Collection tommorrow.

blink182:
In Delta state, fish came out of the water to vote for PDP, 50,000 for that matter

onye_ngbu*:
PDP might also be anti Christ for u guys but guess what.

Over 40 million nigerians are voting its candidate 2moro.
If u dont like it, find a wet transformer and do what got to do.

hercules07:
I will still be here whether BB loses or not, we will all be here to witness PDP and GEJ ruin our lives for another four year.