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Money Laundering: Maina Bags 61-Year Jail Sentence

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Alleged Fraud: Maina Collapses In Court During Trial
Abdulrasheed Maina

Abdulrasheed Maina, former Chairman of the Pension Reform Task Team (PRTT), has been sentenced to 61 years in prison.

Justice Okon Abang of a Federal High Court in Abuja handed the jail term to Maina on Monday.

It is to run concurrently for eight years.

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The judge convicted Maina for stealing N2 billion meant for pensioners, expressing regrets that many pensioners died out of suffering.

Maina was convicted on count 2, 6, 9, 3, 7 and 10 of the charges filed against him.

He was also found guilty of concealing his true identity as a signatory to accounts opened in UBA and Fidelity Bank.

He was said to have used the identity of his family members without their knowledge.

The accounts had cash deposits of N300 million, N500 million, and N1.5 billion.

The court added that Maina could not prove that the money in the accounts were not stolen.

Justice Abang also held that through Maina’s service as a civil servant, his salary and emoluments would not amount to the monies in these accounts.’

He also found Maina guilty of purchasing a property in Abuja, with cash, in the sum of $1.4 million, which is above the statutory threshold of N5 million and without passing through a financial institution.

The post Money Laundering: Maina Bags 61-Year Jail Sentence appeared first on Information Nigeria.

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