Abacha died in 1998 at age 54 and Nigeria has for years been fighting to recover his money
File photo from 1997 showing former Nigerian President General Sani Abacha Photo: AFP/Getty Images
The United States has frozen more than $458 million that former Nigerian
leader Sani Abacha and his conspirators obtained through corruption and
hid in bank accounts around the world.
About $313 million was restrained in bank accounts in the Bailiwick of Jersey
and $145 million was restrained in bank accounts in France, the US justice
department said in a statement.
The department said it was pursuing additional holdings in the United Kingdom
with an expected value of at least $100 million, but that the exact amount
would be determined later.
Abacha died in 1998 at age 54. Nigeria has for years been fighting to recover
his money, but companies linked to the Abacha family have gone to court to
prevent repatriation.
The former military dictator looted between $3 billion and $5 billion of
public money during his five years ruling Africa's top oil producer from
1993 to 1998, according to Transparency International.
In November, the US Justice Department filed a lawsuit seeking the recovery of
money that had been identified in overseas bank accounts. A judge in
Washington, D.C., unsealed the lawsuit on Wednesday.
Named with Abacha as conspirators in the suit were his son Mohammed Sani Abacha and Abubakar Atiku Bagudu, whom the suit called their associate.
They laundered money through the purchase of bonds backed by the United States using U.S. financial institutions, according to prosecutors.
Last month, US arrest warrants for the assets were enforced in France as well as in the Bailiwick of Jersey off the coast of Normandy, through mutual legal assistance requests and in the United Kingdom through litigation, the Justice Department said.
The assets were held in banks including Deutsche Bank AG, HSBC Holdings PLC and Banque SBA, according to the lawsuit. The lawsuit also seeks the forfeiture of five corporate entities registered in the British Virgin Islands.
Edited by Bonnie Malkin
Named with Abacha as conspirators in the suit were his son Mohammed Sani Abacha and Abubakar Atiku Bagudu, whom the suit called their associate.
They laundered money through the purchase of bonds backed by the United States using U.S. financial institutions, according to prosecutors.
Last month, US arrest warrants for the assets were enforced in France as well as in the Bailiwick of Jersey off the coast of Normandy, through mutual legal assistance requests and in the United Kingdom through litigation, the Justice Department said.
The assets were held in banks including Deutsche Bank AG, HSBC Holdings PLC and Banque SBA, according to the lawsuit. The lawsuit also seeks the forfeiture of five corporate entities registered in the British Virgin Islands.
Edited by Bonnie Malkin
