{"id":368955,"date":"2011-04-05T09:00:49","date_gmt":"2011-04-05T09:00:49","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/04\/05\/uk-court-orders-akingbola-to-surrender-68m\/"},"modified":"2011-04-05T09:00:49","modified_gmt":"2011-04-05T09:00:49","slug":"uk-court-orders-akingbola-to-surrender-68m","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/04\/05\/uk-court-orders-akingbola-to-surrender-68m\/","title":{"rendered":"UK court orders Akingbola to surrender \u00a368m"},"content":{"rendered":"
\n

LONDON \u2013 A UNITED Kingdom High Court has ordered the former CEO of Intercontinental Bank, Dr. Erastus Akingbola, to forfeit nearly seventy-five million British pounds to the bank.<\/p>\n

Akingbola was arrested in 2010 after he returned from the UK, to which he had fled when he got wind of moves by the Economic and Financial Crimes Commission to prosecute him alongside other bank executives who were accused of defrauding the bank.<\/p>\n

According to the UK court judgment obtained by an online publication, SaharaReporters, dated March 24, 2011, he will forfeit sums of \u00a38,540,134.58, \u00a368m and \u00a31.3m to Intercontinental Bank.<\/p>\n

The bank had approached the UK court after it successfully obtained a freezing order against huge sums of monies paid into various shell companies set up by Mr. Akingbola in the Cayman Islands and in which members of his family were beneficiaries.<\/p>\n

When contacted, Akingbola said it was not true.\u00a0 The\u00a0 payments saw Akingbola allegedly transferring huge sums of money from Intercontinental bank in 2009. The payments, known as \u201c1st Fuglers Payments\u201d, \u201cTropics Payments\u201d and \u201c2nd Fuglers Payments\u201d, together led to the transfer of \u00a380million<\/p>\n

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LONDON \u2013 A UNITED Kingdom High Court has ordered the former CEO of Intercontinental Bank, Dr. Erastus Akingbola, to forfeit nearly seventy-five million British pounds to the bank. Akingbola was arrested in 2010 after he returned from the UK, to which he had fled when he got wind of moves by the Economic and Financial Crimes Commission to prosecute him alongside other bank executives who were accused of defrauding the bank<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-368955","post","type-post","status-publish","format-standard"],"yoast_head":"\nUK court orders Akingbola to surrender \u00a368m - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/04\/05\/uk-court-orders-akingbola-to-surrender-68m\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"UK court orders Akingbola to surrender \u00a368m - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"LONDON \u2013 A UNITED Kingdom High Court has ordered the former CEO of Intercontinental Bank, Dr. Erastus Akingbola, to forfeit nearly seventy-five million British pounds to the bank. 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