National Crime Agency
Ex-Goldman Sachs investment banker ordered to pay back £7.3 million
Ellias Nimoh Preko who laundered millions of dollars for the former Governor of Delta State in Nigeria has been hit with a £7.3 million confiscation order.
Investment banker Ellias Nimoh Preko who laundered millions of dollars for James Ibori - the former Governor of Delta State in Nigeria – has been hit with a £7.3 million confiscation order.
The National Crime Agency financial investigation into 60-year-old Preko began after he was convicted of money laundering in December 2013 for handling funds plundered from Delta State by Ibori. He was sentenced to four and a half years.
At Southwark Crown Court earlier this week, the judge ordered Preko to pay back £7,324,268.41 within three months or serve a ten-year default prison sentence.
Kim Kitney, Head of Financial Investigations for the NCA, recently said:
“Professional enablers such as Ellias Preko, who use their legitimate position within the finance industry to conceal the illicit funds of criminals and corrupt elites, are the lynch pin of the billions of dollars laundered through the UK each year.
“Pursuing, prosecuting and making them pay is a priority for the NCA and we will continue to target these corrupt individuals to drive illicit finance out of the UK.”
Preko worked for Goldman Sachs dealing with West African clients, but in 2001 the company decided to refuse to act on behalf of Ibori and other African clients due to suspicions and risk associated with them.
Preko subsequently left and took Ibori with him as a client, setting up a number of corporate vehicles on his behalf. These subsequently received US$3.9 million which represented funds stolen from Delta State.
Confiscation proceedings against James Ibori are still proceeding.
Latest News from
National Crime Agency
Corrupt lorry driver jailed for bringing £1.7 million cocaine into UK24/02/2020 11:15:00
A lorry driver stopped at the Port of Hull with cocaine worth £1.7 million has been jailed for 8 years and 8 months.
Fugitive drug smuggler ‘Dobbo’ arrested in Spain21/02/2020 12:15:00
A convicted drug smuggler who went on the run after absconding from prison has been arrested in Spain.
European police chiefs back NCA demands for tech companies to do more to prevent child sex abuse17/02/2020 09:15:00
Police chiefs across Europe have backed a National Crime Agency demand for tech companies to transform their work to prevent child sexual abuse.
One of “Europe’s most wanted” extradited back to Romania after NCA operation14/02/2020 16:15:00
The suspected head of a major organised crime network has been extradited back to Romania to face trial, following an operation by the National Crime Agency.
NCA secures freezing order over Leeds businessman’s £10.5m property portfolio14/02/2020 11:15:00
The NCA has obtained a freezing order stopping the sale of 17 addresses as part of an ongoing investigation into a Leeds businessman with suspected links to serious organised criminals.
Multi-agency action targets city money laundering12/02/2020 15:43:00
A day of action by National Economic Crime Centre partners will target money service businesses (MSB) at risk of being used by criminals to launder money.
Three men jailed over £500k of cocaine and false documents11/02/2020 11:15:00
Three Albanian men have been jailed over a plot to supply high purity cocaine worth £506,000 and having false identity documents.
‘What am I likely to get for this?’ asked Frenchman arrested flying into the UK to sexually abuse a young girl10/02/2020 16:38:00
A Frenchman who flew to the UK thinking he was going to sexually abuse a 12-year-old girl asked investigators who caught him: “What am I likely to get for this?”