The Igbinedion family is currently one of the richest families in the country till date. Associated with money laundry for a long time, one of the family members, Michael Igbinedion has now been put behind bars for his involvement in a 25 billion naira scam.
A Federal High Court in Aduwawa Benin city has placed a 3 year sentence on Michael Igbinedion with an option of three million Naira fine, which he would obviously pay without a flinch.
The Justice, J. Liman of the Federal High Court Benin, also sentenced a former Personal Assistant to former Governor Lucky Igbinedion, Michael’s brother, to two years in prison without an option of fine.
Michael Igbinedion, Eboigbodin and their various companies; Gava Corporation Limited; Romrig Nigeria Limited; PML Securities Company Limited and PML Nigeria Limited, were arraigned by the Economic and Financial Crimes Commission (EFCC) on an 81-count charge including money laundering, misappropriation of funds, conspiracy and abuse of office.
The EFCC had taken the convicted persons and their companies to court over an alleged 25 billion Naira fraud committed while Lucky Igbinedion was governor of Edo State.