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Nigerian oil tycoon goes on trial for £12m fraud in the UK

By News Express on 02/07/2016

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Walter Wagbatsoma, a Nigerian oil and gas businessman, has been extradited to the United Kingdom and charged under an investigation into fraud and money laundering involving the NHS.

Wagbatsoma, managing director of Ontario Oil and Gas Ltd, arrived the UK on Thursday and for the trial at Lincoln Magistrates’ Court at the weekend.

The Economic Crime Unit of Lincolnshire Police has been conducting a major investigation with the NHS involving offences of fraud and money laundering in excess of £12 million, in which at least 15 people were implicated.

The investigation commenced in September 2011 following a report of fraud involving Lincolnshire Partnership NHS Foundation Trust.

Since then the investigation has linked 20 other offences where the victims include other NHS Trusts, the States of Guernsey Government and other public bodies.

As a result of the investigation, 15 suspects were charged with offences of conspiracy to defraud, money laundering and conspiracy to launder money, and all have since been indicted to stand trial.

Wagbatsoma, one of the prime suspects, was detained in Germany following the issue of a European Arrest Warrant by Lincolnshire Police on Monday, June 6, 2016.

The Nigerian is suspected of laundering funds from overseas in the UK.

He had earlier appeared in court in Nigeria concerning a N1.9 billion oil subsidy fraud for the purported importation of 39.2 million litres of petrol; the trial is still being prosecuted by the Economic and Financial Crimes Commission, which is seeking his conviction for fraud and money laundering, among other charges. (Independent)

•Photo shows Walter Wagbatsoma.

Source News Express

Posted 02/07/2016 9:43:36 PM

 

 

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