Ellias Preko, Ibori’s Money Launderer Fined N3.2billion By UK Court

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A Ghanaian national and Harvard graduate, Ellias Preko, who allegedly helped the former governor of Delta, James Ibori to hide a fortune in offshore accounts has been ordered by a UK court to pay back £7.3m (N3.2 billion) or face 10 years more in jail.

Daily Mail UK reports that Judge David Tomlison on Monday ordered the former Goldman Sachs banker to pay back to the British treasury within three months following a confiscation hearing.

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Recall that Ibori was jailed for 13 years in 2012 at Southwark Crown Court, London, after he admitted seven counts of fraud and money laundering while in office between 1999 and 2007.

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Ellias Preko, who reportedly represented himself, told the court in a previous hearing that much of the cash had been spent on election campaigning back in Ghana, adding that he had run as candidate for the centre-right NPP party back in the mid-2000s and others.

He denied charges but was convicted of money laundering.

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