Court Sentences Former PenCom Boss, Maina To 8 Years In Prison Over Money Laundering, Others

The former chairman of the defunct Pension Reform Task Team (PRTT), Abdulrasheed Maina has been sentenced by a Federal High Court in Abuja over money laundering and other forms of corruption.

On Monday, Justice Okon Abang in a judgement analysed evidence led by not the prosecution and defence in the case and found that the prosecution established its case against Maina.

The Judge said;

Maina stole over N2billion from pensioners’ funds, “most of whom have died without reaping the fruits of their labour,”

The judge also found Maina guilty of purchasing a property in Abuja for which he paid with $1.4million cash, which is above the statutory threshold of N5million and without passing through a financial institution, describing it as a criminal offense.

Justice Abang also found Maina guilty of concealing his true identity as signatory to accounts opened in two new generation banks by using the identity of his family members without their knowledge.

These accounts had cash deposits of N300million, N500million and 1.5billion , which the judge found that Maina stole from pensioners because he could not prove where he got said finds from.

The judge said the amount formed part of the proceeds of unlawful act.

“I find the defendant (Mr Maina) guilty and convicted in count 2, 6, 9, 3, 7 and 10,” the judge said.

The judge, who is currently listening to plea for mercy (allocutus) from the defence lawyer, has pronounced the sentence.

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