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Wednesday, March 9, 2011

Ibori's Lawyer Sentenced To 7 Years In Prison

Judge Christopher Hardy sitting at  a packed Southwark Crown Court today told Bhadresh Gohil  a partner at Arlington Sharma Solicitors and James Ibori’s lawyer; “you have brought shame on your family, your profession and your country”  as he handed down a sentence of over 7 years to him.  (Sentence Count 1; Conspiracy to defraud -7 yrs , Count 2:  Conspiracy to make false instruments - 3 ; 5 years  and count 4-8  involving Money laundering and Proceeds of Crime-
3 years)

Gohil who was already in custody at Wandsworth Prison following the conclusion of another trial involving Ibori’s wife, sister and mistress was told by the judge,  “ You were a solicitor of the supreme Court and holding out as a man of integrity”.  Adding “It’s said the real villains are in Nigeria, but this fraud required special expertise and you lent yourself to it”.  Gohil was described by the judge as the “architect” and the predicate offender in a thoroughly dishonest scheme which had been devised simply to divert resources of Nigerian state funds into the pockets of others from the sale of ‘V Mobile’ shares, the third largest wireless network in operation in the whole of the African continent now known as “Airtel.”   Gohil went to extra ordinary lengths to carry out the fraud with no regard for his professional duties.  In fact the police found evidence implicating him in fraud in another case already heard concerning Mr. Faustin Kabwe of Zambia who is already serving a sentence.

Sasha Wass QC for Prosecution told the judge that are two elements to this crime; “the Fraud and the Money laundering”. 

In 2005 whilst James Ibori was the Governor, the  Delta State owned  18% of the shares in V Mobile and  The Akwa Ibom state owned 10% with  Obong Victor Attah in power.   Both were on the board of V Mobile and privy to all the dealings.   So in June 2005, when a sale of the company  was considered there were already offers on the table from major international operators such as Vodaphone, Virgin, Celtel and Econet amongst others.   By late 2005 the market had been fully tested and although there was no requirement for any additional advice and due to the greed of our leaders, both James Ibori and Victor Attah together decided to plunder the asset and divert funds to their own coffers.

Other Nigerian officials accused in the scam are currently at large. They include Mr. Ibori, former Governor Victor Obong Attah of Akwa Ibom, David Edevbie, a former Principal Secretary to Umaru Yar'Adua, Love Ojakovo, a former commissioner of finance to Ibori and Henry Imashekka, a business associate of Ibori.

Gohil was recruited and it was he who masterminded a simple scheme and set up a fake company as a consultancy called ADF (Africa Development Finance) which would charge exorbitant fees ( five to six times of that charged by top UK solicitors, for their alleged service and to arrange the sale.  Gohil created a pretence that it was necessary for the Delta State and Akwa Ibom state to consult another company-ADF and charged $19 million and $18m respectively and sent to Access bank in Nigeria.   

The basis of the fee would be a 5% flat commission and 25% -30% success fee for any price achieved over $6.5 per share.  This even though the market was already established at between $6.45-$8.05 per share.   The prosecutor Sasha Wass said “it is like betting after a race is concluded”.  The fees were not legitimate or necessary but merely a mechanism to divert money to James Ibori and Victor Attah.   It was always intended that no work would be undertaken but money diverted.   Mr. Gohil from his luxury offices in St James in London, created a false paper trail by his own efforts and by instructing his junior trainees.  A false agreement was typed up and Gohil forged  the  necessary signatures.   

Once funds were received at the Access bank in Nigeria various company vehicles were used to launder the cash including Brookes Aviation, E F Samuels, Ascot Offshore Nigeria Ltd, Esconet and Cran Brasil Nominees Ltd.   Both De Boer and McCann were FSA approved and were recruited by Gohil to play a part

The Judge also told the co defendants ; Lambertus De Boer aged 65 and  Danial MCann aged 68 that,  “I am satisfied that you were both drawn in innocently in Mr Gohil’s schemes and if you had not been then it would have been very serious for you”.   Although both co-defendants’ lawyers made a case for  suspended sentences, the Judge said that “Court of Appeal says that white collar crime is still a crime” and handed each a 30 months custodial sentence.
Mr. Gohil faces further  sentencing  regarding an earlier trial known as “Ibori Trial 2” which concerns the trial of Ibori associates already sentenced to five-year jail terms , that sentencing is  adjourned till  April  8 2011.

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