Politics SAHARA REPORTERS: How Saraki Used Credit Card To Launder Funds Stolen From Banks,Kwara State

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SaharaReporters has received exclusive documents of a police investigation revealing how Nigeria’s current Senate President, Bukola Saraki, made a series of questionable deposits and illegal withdrawals from banks in order to launder stolen funds through shell companies and an American Express credit card. The report was authored by a team of detectives at the Special Fraud Unit of the Nigerian police headed by a Commissioner of Police.

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The police investigation found that Mr. Saraki, during his tenure as Governor of Kwara State, was the “prime promoter” of several shell companies, including Skyview Properties Ltd., Limkers Ltd., Dicetrade Ltd., Carlisle Properties and Investment Ltd., and the parent company known as Joy Petroleum.

Senator Saraki’s moneymaking scheme, according to the details of the Special Fraud Unit’s investigation, was to withdraw millions of naira disguised as loans from GTBank, Intercontinental Bank, Zenith Bank Plc. The funds were then moved into different accounts, sometimes under the guise that the purpose was to pay off some bank debts with other “loans.”

A part of the investigation discovered that Senator Saraki at various times withdrew 11 billion naira from the Intercontinental Bank, 160 million naira from Zenith Bank, and 204 million naira from GTBank. According to the report, “the investigation also saw evidence of a 200 million naira loan facility that was availed by Zenith Bank to Joy Petroleum Ltd.”

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SOURCE: SAHARA REPORTERS
 
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