Walter Wagbatsoma Sentenced to 3 yrs in the UK for Money Laundering

Walter Wagbatsoma, a Nigerian businessman and thirteenth defendant at Leicester Crown Court has been convicted of conspiracy to launder money in an international fraud and money laundering investigation.

This investigation was conducted by Lincolnshire Police Economic Crime Unit under Operation Tarlac, in which over £12m was defrauded from public bodies including hospital trusts, housing associations and councils around the UK.

Walter Wagbatsoma, 47, was originally detained on a European Arrest Warrant in June 2016 whilst traveling through Germany. He was extradited soon afterward and charged with conspiring with others to launder the proceeds of fraud through his business interests in the UK.

The Nigerian businessman was today sentenced to 3 years and 6 months imprisonment for his part in the crime, he was also disqualified from being a company director for 6 years. Fraudulently obtained funds in the UK were laundered through an account in Dubai under the control of a co-conspirator Oluwatoyin Allison, a UK national who was convicted in his absence at an earlier trial in April 2017 and sentenced to seven years imprisonment. The funds were then transferred to Wagbatsoma’s account in the UK.

Wagbatsoma, an oil and gas businessman, was on trial in Nigeria at the time of his arrest for his part in a £1.9 billion oil subsidy fraud for which he was convicted and sentenced in his absence to 10-years imprisonment in January last year.

This is the third criminal trial for this operation and follows the successful conviction of 12 other defendants in the investigation which began with a complaint of fraud from Lincolnshire Partnership Foundation Trust in September 2011, in which £1.28m was fraudulently obtained by the gang. Subsequently, a further 20 linked offences was identified resulting in losses of £12.6m.

After a four-year investigation, those convicted have received prison sentences in excess of 50-years and proceedings are underway to recover the gains of the conspiracy under the Proceeds of Crime Act. This is to make sure that victims can in some way be recompensed for what the Judge described as a “sophisticated and widespread fraud in its conception and execution.”

Deputy Chief Constable Craig Naylor said: “For a small force, this investigation shows that officers in our Economic Crime department have shown real endeavor and determination in investigating what is a huge money laundering and fraud offense.

“Operation Tarlac has now seen thirteen individuals given lengthy prison sentences for their part in an international offence, which has had a national impact on public bodies in the UK. As a force, we have achieved a significant impact against organised crime in this investigation and this shows the hard work by our officers.

“Proceedings are now underway to recover a large amount of money, and I want to personally thank partners for their support and co-operation with us in this investigation and congratulate my officers and staff on a job well done.”

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Some more Related News you might be interested in....

“Don’t Think About Marriage If You Don’t Have N1million” – Joro Olumofin tells ladies

Joro Olumofin

Relationship expert and psychologist, Joro Olumofin has made an appeal to ladies to establish themselves before considering getting married. Joro olumofin According to him, if women don’t have up to N1m in assets or in their accounts, they shouldn’t be thinking about marriage.Read his full post below.Dear Ladies, if you don’t have up to N1,000,000 / $2000 in assets […] Read More

COZA Rape Allegation | Kizz Daniel Sues Vanguard Newspapers For N100m

Nigerian Singer Oluwatobiloba Daniel Anidugbe popularly known as Kizz Daniel has sued Vanguard Newspaper for false publications about him over the recent Coza rape scandals between Pastor Biodun Fatoyinbo and Timi Dakolo’s wife, Busola Dakolo. Kizz Daniel The singers Lawyer said Vangaurd made a publication about Kizz Daniel airing his view on the scandal which […] Read More

2019 BBNaija Housemates’ Official Social Media Accounts

Big brother naija (BBnaija) reality show kicks off with new house mates from London and USA. BBnaija 2019 House mates BBnaija promises viewers a spectacular show this year, with the winning cash to be N60m. Below are their accounts on Twitter and Instagram. Avala – @lookingforavalaKhafi – @acupofkhafiOmashola – @sholzy23Frodd – @callme_froddIke – @ike_onyemabbn19Ella – […] Read More

Waje Quit Music –“I Don’t Have Money for Promotions and Publicity”

Waje, one of Nigeria’s talented and powerful singer said she will be quitting music as she pours out her heart and frustration at what suppose to be her first love (music) is not rewarding after all her efforts. Waje (Birthname: Aituaje Aina Vivian Ebele Iruobe) In a video interview that has circulated social media, Waje […] Read More

Chronicle of Naija Celebs | Etinosa Going Nude On Mcgalaxy’s IG Live.

Mcgalaxy (Innocent Udeme Udofot), Nigerian singer and music writer might have found a very lucrative ways of promoting his music. Mr Mc Galaxy has a friday program which he called the ‘freaky friday’. Mc Galaxy The first one he held was on march 1st and it ended with a controversy of a lady who went […] Read More

Tekno Allegedly Leaves Ubi Franklin’s MMMG & Set Up His Own Music Label

Tekno Miles has left Made Men Music Group owned by Ubi Franklin to set up his own record label which he named cartel. Tekno He disclosed this on his Instagram page, where he declared himself the CEO of his new record Label. Recall late last year the Diana singer announced via social media that he […] Read More

// End of script for the slider