{"id":3888,"date":"2020-07-27T14:08:01","date_gmt":"2020-07-27T14:08:01","guid":{"rendered":"https:\/\/diskdrive33.com\/mks\/?p=3888"},"modified":"2020-07-27T14:17:56","modified_gmt":"2020-07-27T14:17:56","slug":"jet-reportedly-linked-to-opl245-oil-deal-seized-by-nigerias-asset-recovery-lawyers","status":"publish","type":"post","link":"https:\/\/diskdrive33.com\/mks\/2020\/07\/27\/jet-reportedly-linked-to-opl245-oil-deal-seized-by-nigerias-asset-recovery-lawyers\/","title":{"rendered":"Jet linked to OPL245 deal seized by Nigeria\u2019s asset recovery lawyers"},"content":{"rendered":"<div class=\"elementor-element elementor-element-f78d834 elementor-widget elementor-widget-theme-post-content\" data-id=\"f78d834\" data-element_type=\"widget\" data-widget_type=\"theme-post-content.default\">\n<div class=\"elementor-widget-container\">\n<p><strong>Nigeria has moved to ground a luxury private jet that a former oil minister purchased by allegedly using his illicit cut of a $1.3 billion oil deal. The Nigerian government\u2019s asset recovery lawyers seized the aircraft after it landed at Montreal-Trudeau airport towards the end of last month.<\/strong><span id=\"more-70388\"><\/span><\/p>\n<hr \/>\n<p>The company which owns the jet appears to be a British Virgin Islands (BVI) entity. According to <a href=\"https:\/\/www.financeuncovered.org\/investigations\/nigeria-seizes-luxury-private-jet-linked-to-opl245-money-laundering-in-montreal\/\" target=\"_blank\" rel=\"noopener noreferrer\">reports <\/a>by Lionel Faull and Margot Gibbs in <em>Finance Uncovered<\/em> and <em>The Premium Times<\/em> in Nigeria, the company is \u201canonymously owned.\u201d My immediate thoughts, as an asset recovery professional who practices in the BVI, is that this is unlikely to be the case.<\/p>\n<p>Ultimate beneficial ownership details are now identified and recorded for every BVI company. Although this information is held confidentially it is far from secret. Competent authorities can access this information or, in the alternative, lawyers such as myself can do so, provided we have sufficient grounds in the eyes of the court.<\/p>\n<p>The Nigerian official whose jet was seized is rumored to have received $336 million in exchange for agreeing to the OPL245 oil deal on the government\u2019s behalf, which has now led to the initiation of a corruption trial in Italy. The former oil minister and his alleged co-conspirators all deny the charges against them.<\/p>\n<p>Asset recoveries such as this form a key part of the Nigerian government\u2019s attempts to reimburse the public purse and improve its global image. Though they are complex and likely to be drawn-out, for a state synonymous with corruption and fraud it is a huge step in the right direction. Just because the task ahead is daunting does not mean that it should not be attempted.<\/p>\n<p>Nigeria has been rightly criticized over its notorious \u201c491\u201d advance-fee frauds (so-called because of the section of Nigeria\u2019s Criminal Code which outlaws the practice), among other frauds. Rarely has any state had so many \u201cprinces\u201d with so much money to launder.<\/p>\n<p>As laughable as these fraudulent advance-fee emails and letters may seem to those of us working in investigating fraud and implementing counter measures, a shockingly high number of innocent people have still fallen victim to these crimes. The Nigerians need to be seen as taking fraud and corruption seriously in order to put this ugly chapter behind them. Those countries with vast economic potential like Nigeria have bright futures \u2013 but only if the rest of the world can feel confident doing business with them.<\/p>\n<p>If Nigeria can shake off its suspect fraud reputation \u2014 through more actions such as the recent jet seizure \u2014\u00a0 it will be welcomed into the global fold to enjoy the many benefits that shift will bring.<\/p>\n<p><em>With thanks to Tony McClements, Senior Investigator at Martin Kenney &amp; Co, for his assistance with this post. He served for 33 years with UK police forces and has specialized in Fraud &amp; Financial Investigation since 1998. He is also a lecturer in these subjects at the University of Central Lancashire (UCLAN).<\/em><\/p>\n<\/div>\n<\/div>\n<div class=\"elementor-element elementor-element-3002891 elementor-widget elementor-widget-wp-widget-simple_author_box_widget_lite\" data-id=\"3002891\" data-element_type=\"widget\" data-widget_type=\"wp-widget-simple_author_box_widget_lite.default\">\n<div class=\"elementor-widget-container\">\n<div class=\"jupiterx-widget widget_simple_author_box_widget_lite\">\n<div class=\"jupiterx-widget-content\">\n<div class=\"saboxplugin-wrap\">\n<blockquote>\n<div class=\"saboxplugin-gravatar\"><a href=\"https:\/\/fcpablog.com\/author\/mkenney\/\"><img decoding=\"async\" class=\"alignleft\" src=\"https:\/\/fcpablog.com\/wp-content\/uploads\/2019\/10\/martin_kenney.png\" alt=\"\" \/><\/a><\/div>\n<div class=\"saboxplugin-authorname\"><span class=\"None\">Martin is Managing Partner of <a href=\"https:\/\/diskdrive33.com\/mks\/\" target=\"_blank\" rel=\"noopener noreferrer\">Martin Kenney &amp; Co.<\/a>, Solicitors, a specialist investigative and asset recovery practice based in the BVI, focused on multi-jurisdictional fraud and grand corruption cases.<\/span><strong>\u00a0<\/strong><span class=\"None\">In 2014 he was the recipient of the ACFE\u2019s highest honor: the Cressey Award for life-time achievement in the detection and deterrence of fraud. In 2017, 2018, 2019, and 2020 he was chosen as a global elite \u201cThought Leader\u201d by Who\u2019s Who Legal and also selected as the number one offshore asset recovery lawyer worldwide over the same period.<\/span><\/div>\n<\/blockquote>\n<div class=\"saboxplugin-desc\">\n<p><strong><a href=\"https:\/\/fcpablog.com\/2020\/06\/15\/jet-reportedly-linked-to-opl245-oil-deal-seized-by-nigerias-asset-recovery-lawyers\/\">This article first appeared on the FCPA Blog (June 2020)<\/a><\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Nigeria has moved to ground a luxury private jet that a former oil minister purchased by allegedly using his illicit cut of a $1.3 billion oil deal.<\/p>\n","protected":false},"author":2,"featured_media":3890,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[81],"tags":[],"class_list":["post-3888","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opinion"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - 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