Friday, April 18, 2014

EFCC traces N1billion Abuja mansions to Timipre Sylva

Published:

The EFCC says Timipre Sylva acquired choice properties in Abuja valued at over N1.01billion

The Economic and Financial Crimes Commission (EFCC) on Friday said it recorded one of the most significant breakthroughs in its investigation of the monumental looting of Bayelsa State treasury by the former state governor, Timipre Sylva.

The commission in a statement by its spokesman, Wilson Uwujaren said a team of investigators from the anti-graft agency raked up more startling discoveries of some choice properties located in prime locations in major cities across the country, particularly the Federal Capital Territory (FCT), Abuja.

According to Mr. Uwujaren, the team uncovered a network of fronts through which the former governor acquired the choice properties, with two located in Abuja valued at over N1.01billion.

PREMIUM TIMES gathered that one of the properties linked to the former governor is a massive duplex valued at over N310 million situated at Cachez Estate, Mpape, Abuja, while the other is a mansion valued at over N700 million located off Ademola Adetokunbo Crescent in high brow Wuse 2 District in the FCT.

The Wuse 2 mansion was said to have been acquired in the name of Marlin Maritime Limited, one of the network of companies allegedly owned by Mr. Sylva and used as fronts to acquire properties with the stolen state wealth.

The managing Director of the company, Gbenga Balogun, who helped the former governor to acquire the properties, is currently on the run. But the commission says its operatives, who have been following the money trail, are closing in on him.

A number of accounts in an unnamed bank in the FCT were also traced to another front of the governor, who is currently standing trial before a Federal High Court in Abuja on a six-count charge bordering on fraud and money laundering.

The front (names withheld), who is currently also on the run, reportedly opened the accounts in his name, but using a passport photographs belonging to someone else.

 

 

 

 

 

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