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Cecilia Ibru Pleads Guilty, Convicted, Sentenced, Forfeits Assets

Source: AUSTYN OGANNAH - thewillnigeria.com
PHOTO: MRS CECILIA IBRU HAS PLEAD GUILTY TO CHARGES OF FRAUD AND MONEY LAUNDERING.
PHOTO: MRS CECILIA IBRU HAS PLEAD GUILTY TO CHARGES OF FRAUD AND MONEY LAUNDERING.


San Francisco, Oct 08, (THEWILL) – THEWILL can authoritatively report that Mrs. Cecilia Ibru has been convicted of fraud by a federal high court in Ikoyi, Lagos.

The embattled for managing director of Oceanic Bank Plc entered a plea deal with EFCC prosecutors and was subsequently sentenced to a six-month term in jail but will have to forfeit over N150 million in cash and assets to the government.

The former managing director was charged for several financial offences including money laundering, wire fraud and abuse of office amongst other after she was sacked by the central bank in the wake of the last global melt down.

She was also evicted from her family home on Queen’s drive following her removal as managing director of Oceanic Bank. Mrs. Ibru had fraudulently leased the property to the bank as a ‘Guest House’ for her exclusive use at a ridiculously inflated rate and subsequently lost the property to the bank when she was eased out as GMD.

THEWILL has not obtained details of the plea deal but the assets traced to her in the Upper Marlboro area of Maryland, United States are registered either to her son’s wife, Kemi Da silva, her son, Obaro or daughter Janet. The Assets are:

1. 4155 Chariot Way purchased for $452,508,00 on March 12, 2009 and registered to Anita Da silva Ibru,

2. 4145 Chariot Way purchased for $440,105.00 and also registered to Anita Da silva Ibru on April 14, 2009.

3. 4139 Chariot Way purchased for $451,629.00 and also registered to Edesiri Onatejerohene Ibru on April 21, 2009.

4. 4149 Chariot Way purchased for $473,657.00 and registered to Obaro and Hirut Ibru also on April 21, 2009.

5. 4141, Chariot Way purchased for $441, 790 on April 13, 2009 for herself.

6. 4143 Chariot Way Purchased for $439,362.00 on April 13, 2009 for herself also.

7. 14605 Hawley Lane purchased for $399,990.00 on July 22, 2008 and registered to her daughter, Janet Ibru,

8. 14630 Hawley Lane purchased for $ 460,703.00 May 17, 2008 and registered to Janet Ibru.

9.14721 Argos Place purchased for $457,950 and registered to Janet Ibru on October 28, 2008.

10. 14719 Argos Place purchased for $451,840.00 on November 26, 2008 and registered to Janet Ibru.

11. 11300 Dappled Grey Way purchased for $987,949.00 on October 7, 2008 and registered to herself.

There are also about 57 properties in Lagos Abuja and Port Harcourt. They include:

1. 15,000 square metres of land at Okunade Water Front, Victoria Island in Lagos.

2. 12-storey Tower on one hectare of land at Ozumba Mbadiwe Water Front, Lagos

3. Three residential Towers in Port Harcourt GRA.

4. Residential block with 19 apartments on 34 Bourdillon Road, Ikoyi

5. 35B Isale Eko Avenue, Dolphin Ikoyi.

6. 103 Hectares of land in Lagos.

7. 3, Okotie-Eboh, SW Ikoyi.

8. 10A Sobo Arobiodu Street, Ikeja.

9. One Storey building at 50 Marina, Lagos

10. Seven properties on 5A George Street, Ikoyi.

11. 4B, 5B George Street, Ikoyi.

12. Metro Plaza Building in Abuja where the British Visa Section is located.

Some of the companies which she used to launder funds include Cloudy Heights, Enifor, Prisky Gold, Bliss Bloss, Velvox and Circular Global, which she used to acquire over 275 million shares in First Bank Nigeria Plc for N275,795,139.

She also used the companies to acquire over 64 million shares in Union Bank of Nigeria valued at 64, 218,000; 93 million shares in the United Bank for Africa for N93,750,000; Oceanic Bank Plc, N1,076,220,421 worth of shares.

Other acquisitions include, 13 million shares in Oando for N13, 200,000 and another 388 million units of shares in other companies, 600 million shares in BGL Plc.

Another company linked to her, Prisky Gold was used to purchase 48.8 million shares in Access Bank Plc, 8,140,500 in Dangote Flour, 12,480,000 in Dangote Sugar Refinery, 12.500,000 in Fidelity Bank, 27,434,791 shares in First Bank, 25,316,400 in Japaul Oil, 10, 280,000 in Zenith Bank, and 200,000,000 shares in Transcorp Plc.

Africa Lloyd, another company traced to her purchased 431,201,702 million shares of Oceanic Bank Plc.