In two separate judgments, Justice Donatus Okorowo ruled that two companies involved in the alleged $9.6 billion P&ID scam were guilty of money laundering offenses. Consequently, he ordered that the companies be wound up and their assets forfeited to the federal government.
The Economic and Financial Crimes Commission (EFCC) is prosecuting Trinity Biotech Nigeria Limited and its associate, Nolan. Additionally, the EFCC is prosecuting Resorts Express Concept Nigeria Ltd. and Corrado Fantoli as the first and second defendants in the case.
The court’s decision marks a significant development in the ongoing efforts to address the high-profile P&ID fraud case.
