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Nigerian billionaire, Gilbert Ramez Chagoury indicted for US campaign finance violations

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The United States Justice Department on Tuesday, charged Nigerian billionaire, Gilbert Ramez Chagoury with one count of scheming to falsify and conceal material facts and two counts of making false and misleading statements to federal investigators during an investigation into illegal contributions he made to the re-election campaign of Nebraska Republican Congressman, Rep. Jeff Fortenberry. Under 18 USC Section 1001, the penalty for making false statements is a maximum sentence of up to five years in prison. Both Fortenberry and Chagoury face up to 15 years imprisonment if convicted.

A federal grand jury also indicted Rep. Fortenberry, alleging that the Nebraska GOP congressman concealed information and made false statements to authorities. The Justice Department also said Rep. Fortenberry repeatedly lied to and misled authorities during the investigation into illegal contributions made by Chagoury to his reelection campaign. The 75-year-old Nigerian billionaire of Lebanese descent has been living in Paris, France since 2015, after he fell out of favor with the new political establishment in Nigeria led by President Muhammadu Buhari. Chagoury is alleged to have bankrolled the election campaign of then President Goodluck Jonathan who was defeated by Buhari.

Gilbert and his brother, Ronald Chagoury, who have built a reputation as giants of global philanthropy, are among Africa’s richest men with generous donations to charitable projects around the world. Gilbert’s name is on a gallery at the Louvre in France and a medical school in Lebanon, and he has received awards for his generosity to the Catholic Church and St. Jude’s Children’s Hospital in the USA. He owns a seven-bedroom hilltop mansion in Beverly Hills in California, and he has a high-level network of friends from Washington to Lebanon to the Vatican, where he serves as an ambassador for the tiny island nation of St. Lucia. His website shows him shaking hands and laughing with Pope Francis.

“I never imagined what the future would hold for me,” Chagoury once said of his boyhood in Nigeria. “But I knew there was a vision for my life that was greater than I could imagine.… I consider it a duty to give back.” Since the 1990s, Chagoury has cultivated a friendship with the Clinton family, in part by writing big checks, including an estimated $5 million to the Clinton Foundation, according to its list of donors. At a 2009 Clinton Global Initiative conference, where business and charity leaders pledge to complete projects, the Chagoury Group’s Eko Atlantic development – nine square kilometers of Lagos coastal land reclaimed by a seawall – was singled out for praise. During a 2013 dedication ceremony in Lagos, just after Hillary Clinton left her post as secretary of State, Bill Clinton lauded the $1 billion Eko Atlantic as an example to the world of how to fight climate change.

By the time Hillary Clinton became secretary of State, the relationship was strong enough for Bill Clinton’s closest aide to push for Chagoury to get access to top diplomats, and the agency began exploring a deal, to build a consulate on Chagoury family land in Lagos. But even as those talks were underway, other State Department officials were examining accusations that Chagoury had unsavory affiliations, stemming from his activities and friendships in Lebanon. After a review, Chagoury was refused a visa to enter the US in 2015.

Chagoury was born in 1946 in Lagos to Lebanese parents, and as a child attended school in Lebanon. He sold shoes and cars in Nigeria, according to a biography on his website, before marrying the daughter of a prominent Nigerian businessman. In the years afterward, Chagoury’s wealth grew. He has used some of that money to build political connections. His family conglomerate now controls a host of businesses, including construction companies, manufacturing plants, flour mills and real estate. Operating under the Chagoury Group – an industrial conglomerate founded in 1971 with interests in almost every viable sector in Nigeria; the group’s net worth, according to Forbes, is about $4.2 billion. The Chagoury brothers own the prestigious Eko Hotel & Suites, HITECH Construction Company and ITB Construction Ltd. They are also behind the over $6 billion Eko Atlantic project, which is an entirely reclaimed coastal city built in the upmarket Victoria Island area of Lagos and reserved exclusively for the high net worth individuals and corporate entities including some embassies. Its grand cheerleaders boast that upon completion, the new Eko Atlantic would match New York’s Manhattan.

During the rule of Gen. Sani Abacha, who seized power in Nigeria in 1993, Chagoury prospered, receiving development deals and oil franchises. In the 1990s, Chagoury portrayed himself as an Abacha insider as he tried to influence American policy to be friendlier to the junta. Soon after President Clinton named Donald E. McHenry a special envoy to Nigeria in 1995, Gilbert and Ronald Chagoury visited McHenry in his office at Georgetown University in Washington. The US was pushing for the return of democratic rule in Nigeria; Abacha, meanwhile, was eager to have Nigeria taken off a US list of nations enabling drug trafficking, McHenry said. Abacha turned out to be one of the most notorious kleptocrats in history, stealing billions in public funds. After Abacha’s death in 1998, the Nigerian government hired lawyers to track down the money. The trail led to bank accounts all over the world; some under Gilbert Chagoury’s control. Chagoury, who denied knowing the funds were stolen, paid a fine of 1 million Swiss francs, (about $600,000), and gave back $65 million to Nigeria; to get his Swiss conviction expunged.

As a noncitizen, Chagoury is barred from donating to US political campaigns, but in 1996, he gave $460,000 to a voter registration group steered by Bill Clinton’s allies and was rewarded with an invitation to a White House dinner. Over the years, Chagoury attended Clinton’s 60th birthday fundraiser and helped arrange a visit to St. Lucia, where the former president was paid $100,000 for a speech. Clinton’s aide, Doug Band, even invited Chagoury to his wedding. Chagoury has also donated to Republicans: He and his brother, along with Eko Atlantic, are listed as sponsors for a 2014 art exhibit at the George W Bush Presidential Center. In spite of his network of powerful friends, Chagoury has aroused the suspicions of US security officials. In 2010, he was pulled off a private jet in Teterboro, NJ, and questioned for four hours because he was on the Department of Homeland Security’s no-fly list. Homeland Security documents show that he was subsequently removed from the list and categorized as a “selectee,” meaning he can fly but receives extra scrutiny. Another Homeland Security document shows agents citing unspecified suspicions of links to terrorism, which can include financing extremist organizations; Chagoury later told reporters that agents asked him what bank he used in Nigeria.

In July this year, Chagoury was in Paris, France to join his fellow billionaires as guests of French President, Emmanuel Macron. The billionaire was said to have made the US his initial new abode, while his younger brother, Ronald held forte in Nigeria. The billionaire was then shuttling London, Beirut and Dubai to attend to business issues until he finally settled for Paris as his new base where he was plucked to be part of Macron’s France-Nigeria Business Council headed by Nigerian billionaire, Abdulsamad Rabiu. The brothers returned briefly to the spotlight in April 2020 when they significantly boosted Nigeria’s fight against the spread of the deadly coronavirus pandemic with the donation of N1 billion to Lagos State government. For the last three decades, Chagoury spent at least a few months each year in Beverly Hills, where he owns an 18,000-square-foot estate, once the home of actor Danny Thomas, with commanding views of West Los Angeles and the ocean. A year ago, after his visa application was denied, Chagoury’s mansion was put on the market, with an asking price of $135 million. It’s still on sale.

Society

‘Not My Property’ – Ex-Petroleum Minister, Diezani Exposes Owner Of Recovered $52.8 Million Loot

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Nigeria’s former Minister of Petroleum Resources, Diezani Alison-Madueke, has clarified that she is not connected to the $52.5 million that was recently brought back to the country from the United States of America (USA).

Society Reporters recalls that the federal government on Friday, January 10, announced the receipt of $52.88 million in recovered Galactica assets linked to the former Minister of Petroleum.

The Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, announced the recovery during a formal signing ceremony of the asset return agreement in Abuja.

Fagbemi explained that $50 million of the recovered funds would be channelled through the World Bank for the development of rural electrification projects.

The remaining $2.88 million, he added, would be allocated to the International Institute of Justice to enhance the justice system and support anti-corruption initiatives.

However, in a statement issued on Sunday, Diezani, who has been residing in the United Kingdom (UK) since departing from Nigeria, asserted that the funds associated with her in the media as illicit gains actually belonged to Nigeria’s oil entrepreneur, Kola Aluko.

Finally responding to the alleged recovery through her attorney, Mike Ozekhome SAN, Diezani maintained that the term “Diezani Loot” is unfounded, as she had no involvement in the circumstances surrounding the forfeiture of the funds by its rightful owner.

Expressing her stance, the former minister stated that the $52.5 million originated from a vessel that was confiscated by the American authorities from Kola Aluko, which was subsequently sold, with the proceeds returned to the Nigerian federal government.

Her disavowal of ownership over the funds was detailed in an extensive press release issued on Sunday by the Chambers of Mike Ozekhome SAN, titled “There is no such thing as Diezani Loot.”

The statement reads: “My chambers makes this intervention in the public domain as Solicitors to Diezani Alison-Madueke (DAM) ,the former Minister of Petroleum Resources, HMPR.

“As her Solicitors, we are fully versed in and conversant with her present ordeal and the entire facts surrounding her matters both here in Nigeria and abroad. So, we write from the vantage position of one that is aware of the cocktail of lies that have been spurned around her cases in the last ten years.

“Many of the narratives are outrightly false; some others sheer outlandish speculations; and most, simply bizzare stories cooked up by her traducers to extract a Shylock’s pound of flesh from her for reasons she does not know and cannot even fathom.

“This intervention therefore seeks to correct this skewed narrative and set the records straight for purposes of history. Many Nigerians often talk about wanting ‘technocrats’ to be involved in governance. They desire that people with character and integrity should join politics.

“We agree with them. However and regrettably too, now and again and many a time, the same people not only allow, but actually join the bandwagon to mob-lynch those who chose to serve the nation.

“And we often do this insidiously, covertly and overtly, even when there is no concrete or even any iota of proof that such public officers ever abused their offices or stole from public coffers.

“It is therefore surprising and of great concern to us, to see the level of sustained vilification of an innocent Nigerian citizen who has not yet been tried and found guilty of any offence known to law by any court of law whether in Nigeria or abroad. The person at the receiving end is Citizen Diezani Alison-Madueke (DAM).”

Mischievous And Cruel
The statement from Ozekhome’s office described the earlier claims about the asset recovery as misinformation and defaming.

It said: “We note with concern the recent deliberate attempt to link her with what has been described as a civil forfeiture of a yacht Galactica, the sale of which was said to have yielded $52.8m to the US government; which sum has since been repatriated to Nigeria.

This is a clear example of the mischievous and cruel sport of tarnishing the image of the lady through a bouquet of consistent, persistent and unrelenting cocktail of falsehoods and misinformation.

“The purveyors of this line of misinformation term it “name-and-shame”. To sell the storyline, the architects ensured they attached Diezani’s name to a recovered yacht which is not in any way linked to her.

“They now falsely termed it “Diezani loot”. Nothing of the sort ever happened. She was never involved in the purchase, use and sale of the said yacht.

“The yacht Galactica, from information readily available in the public domain and in open sources, was purchased by Mr Kola Aluko who had used the vessel until he agreed to its forfeiture to the United States of America.

“The yacht Galactica was neither owned nor ever used by our client. DAM has in fact never set her eyes on the yacht. Kola Aluko is an experienced businessman who had been in business well before DAM came into office as HMPR.

“The only tenuous basis for deliberately linking DAM to the said yacht is the false narrative that the Strategic Alliance Agreements (SAAs) which were entered into between Kola Aluko & Jide Omokore’s Atlantic Energy companies and NNPC, were allegedly corruptly awarded to the said companies by DAM. DAM was not the GMD of the NNPC as so did not and could not have awarded the said contracts.

“We plead, as her lawyers, with all and sundry that she be accorded fair hearing and that the process of these UK court proceedings be allowed to take their natural course to avoid prejudice to her in the ongoing subjudice UK proceedings against her.

”Those purveyors and peddlers who habitually spin these outrightly false, unfounded, defamatory, unintelligent and indefensible narratives to denigrate and humiliate her should please find better use of their time and leave DAM alone.

“Let the law take its natural course without interference. We humbly pray.”

 

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Bisi Onasanya, ex FirstBank MD flees Nigeria to Ghana as EFCC closes in……

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Bisi Onasanya, the embattled former Managing Director of FirstBank has followed in the steps of Oba Otudeko, the former chairman of FBN Holdings and fled the country.
Onasanya who is expected to appear at the Federal High Court in Lagos on Monday January 20 to answer to the charges brought against him by anti-graft agency, the Economic and Financial Crimes Commission, EFCC, may likely be absent in court as he is currently holed up in Ghana in hiding.

He was spotted at Movenpick Hotel in Accra where he checked in at exactly 8 am on Friday morning.

Society Reporters had earlier reported that Onasanya will be arraigned before Justice Chukwujekwu Aneke for looting over N12.3 billion.

He will be arraigned alongside Otudeko, also the chairman of Honeywell Group who is equally on the run, as well as two others, a former board member of Honeywell Group, Soji Akintayo and a firm, Anchorage Leisure Limited connected to Otudeko.

The quartet committed fraud in tranches of N5.2 billion, N6.2 billion, N6.150 billion, N1.5 billion and N500 million, N6.2 billion and N2.09 billion between 2013 and 2014 in Lagos.

The 13-count charge, filed by EFCC counsel Bilikisu Buhari on January 16, 2025, further claimed that the defendants made and uttered forged documents to deceive the bank.

Specifically, count 1 accused the defendants of conspiring “to obtain the sum of N12.3 billion from FirstBank Limited on the pretence that the said sum represented credit facilities applied for by V-TECH DYNAMIC LINKS LIMITED and Stallion Nigeria Limited, which representation you know to be false.”

In Count 2, it was alleged that the defendants, on or about the 26th day of November 2013 in Lagos, “obtained the sum of N5.2 Billion from FirstBank Limited on the pretence that the said sum represented credit facilities applied for by V TECH DYNAMIC LINKS LIMITED which representation you know to be false.”

The 3rd count claimed that the defendants, between 2013 and 2014 in Lagos, obtained N6.2 Billion from FirstBank Limited on the pretence that the said sum represented credit facilities applied for and disbursed to Stallion Nigeria Limited, which representation you know to be false.”

In the 4th count, they were accused of conspiring to spend the N6,15 billion, out of the monies.

According to the Commission, the offences contravened Section 8(a) of the Advance Fee Fraud and Other Fraud Related Offences Act 2006 and are punishable under Section 1(3) of the same Act.

Counts 5 and 6 read: “That you, CHIEF OBA OTUDEKO, STEPHEN OLABISI ONASANYA, SOJI AKINTAYO AND ANCHORAGE LEISURE LIMITED on or about 11th day of December 2013 in Lagos, procured Honeywell Flour Mills Plc to retain the sum of N1,5 Billion, which sum you reasonably ought to have known forms part of proceeds of your unlawful activities to wit: Obtaining by False Pretense and you thereby committed an offence contrary to Section 18(c), 15 (2) (d) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15(3) of the same Act.

“That you, CHIEF OBA OTUDEKO, STEPHEN OLABISI ONASANYA, SOJI AKINTAYO, AND ANCHORAGE LEISURE LIMITED on or about the 17th day of December 2013 in Lagos, converted to the use of Honeywell Flour Mills Plc the sum of N500 million only which sum you reasonably ought to have known forms part of proceeds of your unlawful activities to wit: Obtaining by False Pretense and you thereby committed an offence contrary to Section 15(2 (b)) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15(3) of the same Act.”

“That you, CHIEF OBA OTUDEKO, STEPHEN OLABISI ONASANYA, SOJI AKINTAYO, AND ANCHORAGE LEISURE LIMITED on or about the 17th day of December 2013 in Lagos, converted to the use of Honeywell Flour Mills Plc the sum of N500 million only which sum you reasonably ought to have known forms part of proceeds of your unlawful activities to wit: Obtaining by False Pretense and you thereby committed an offence contrary to Section 15(2 (b)) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15(3) of the same Act.”

The Street Journal

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Society

Just In: Wasiu Ayinde loses mum, aged 105

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Music Maestro, King Wasiu Ayinde Marshal has lost his adorable mother, Alhaja Halima Shadiya Anifowoshe.

 

 

She was aged 105.

 

May her soul rest in Peace.

 

 

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