N25bn Scam: Igbinedion Sentenced to 6 Years in Jail

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

According to Sahara Reporters, 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. A younger brother to former governor Lucky Igbinedion, Michael Igbinedion, was
also 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. The 81-count charges case was instituted against the convicts, Michael Igbinedion, Patrick Eboigbodin, Gava Corporation, Romring Nigeria Limited, PML Securities and PML Nigeria Limited by the Economic and Financial Crime Commission (EFCC), an offence said to have been committed between 1999 and 2007 when Lucky Igbinedion was governor of the state.