In News by Oluwaseun Samuel on the 22nd, September, 2020

US Locations Atiku, Household Underneath Shut Watch Over Alleged Fraud

US Places Atiku, Family Under Close Watch Over Alleged Fraud


Alhaji Atiku Abubakar

The Monetary Crimes Enforcement Community (FinCEN), an company of the U.S. Division of Treasury, Tuesday positioned the candidate of the Peoples Democratic Social gathering, PDP, within the 2019 presidential election, Alhaji Atiku Abubakar and his relations underneath shut watch over alleged monetary fraud.

Premium Occasions unraveled new findings by FinCEN which flagged some transactions linked to the senior politician as suspicious because it surveilled cash actions throughout the worldwide monetary system.

Highlighting how Atiku transferred cash from Nigeria to US, the On-line medium mentioned: “In 1999, Atiku grew to become Nigeria’s Vice-president and, thus, created a blind belief to carry his asset in Intels. It was the blind belief created in 1999 that GTCN was included to handle in 2003, with Gabrielle Volpi. Akintola Kekere-Ekun, a banker, and Uyiekpen Osagie, a lawyer, as its administrators and trustees.

“An investigation (of the March 2012 wire switch) recognized GTCN as an alleged shell firm that has been used to switch over USD 10 million by way of wire transfers by U.S. banks on behalf of the previous vice-president of Nigeria, Mr Atiku Abubakar,” HBLNY reported.

“HBLNY’s assessment of public sources revealed that there have been quite a few investigations of Mr Abubakar, as senior Politically Uncovered Individual (PEP), linking him to corruption allegations, attainable Overseas Corrupt Practices Act international violations and cash laundering.

Moreso, in 2010, the US Senate Everlasting Subcommittee on Investigations indicted GTCN alongside different firms linked to Atiku and Mr Volpi. The committee had investigated how “international senior political figures, their kin, and associates could also be circumventing or undermining anti-money laundering (AML) and PEP controls to convey funds which may be the product of international corruption into the USA.”

Of the $40 million recognized within the US Senate investigation concerning Atiku, $25 million was reportedly wire-transferred into greater than 30 U.S. financial institution accounts opened by Jennifer Douglas, Atiku’s fourth spouse.

READ ALSO:  EFCC Re-Arraigns Atiku's Lawyer Over $2m Cash Laundering

The wire transfers had been primarily by GTCN, LetsGo Ltd. Inc., and Sima Holding Ltd. Each LetsGo and Sima are offshore firms registered in Panama and the British Virgin Islands, respectively, and managed by Mr Volpi, in keeping with a letter to the Senate committee by the businessman’s lawyer, Raymond Shepherd of the Washington-based Venable agency.

The transactions recognized within the US Senate report had been made whereas Atiku held workplace as Nigeria’s quantity two.

The March 5, 2012 suspicious transaction reported by HBNYL was for the acquisition of a flat within the “World Commerce Centre residences” in Dubai for Rukaiyatu Abubakar, a senior spouse of Atiku, by Tanjay, the transaction beneficiary.

The next day, March 6, 2012, because the SAR exhibits, Deutsche Financial institution New York raised a compliance query in an data request to HBL Dubai concerning one other wire switch between GTCN and Tanjay within the sum of $200,000 dated January 25, 2012. This was additionally reported to be for a flat for Rukaiyatu Abubakar  and there was one other CHF 741,000 transaction to which GTCN and Tanjay had been additionally events.

The flagged 2012 wire transfers to Dubai triggered an additional investigation, which revealed that GTCN had channelled a number of different transactions since Might 2005, whereas Atiku was nonetheless Nigeria’s vice-president, to an account the corporate held with Habib Allied Worldwide Financial institution London, (HAIB, London) from a number of accounts held in Switzerland.

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