By Dipo Olowookere
A court in the United Kingdom has sentenced Chairman of Ontario Oil & Gas Limited, Mr Walter Wagbatsona, to three and half years in prison.
The Nigerian oil magnate was convicted by a Leicester Crown Court after he was found guilty of conspiracy to launder money in an international fraud and money laundering.
Mr Wagbatsona was earlier last year sentenced in absentia to 10 years imprisonment by a Nigerian court for his part in a £1.9 billion oil subsidy fraud.
In June 2016, whilst travelling through Germany, the convict was detained on a European Arrest Warrant and was extradited soon afterwards and charged with conspiring with others to launder the proceeds of fraud through his business interests in the UK.
The Lincolnshire Police Economic Crime Unit under Operation Tarlac, which investigated him, said Mr Wagbatsona was involved in fraud of over £12 million (about £13.88 million).
He was said to have defrauded public bodies including hospital trusts, housing associations and councils around the UK.
The 47-year-old Nigerian was said to have fraudulently obtained funds in the UK and 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.
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 £1.28 million was fraudulently obtained by the gang. Subsequently, a further 20 linked offences was identified resulting in losses of £12.6 million.
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 endeavour and determination in investigating what is a huge money laundering and fraud offence.
“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.”
Apart from the 3 years and 6 months imprisonment sentencing handed over to Mr Wagbatsona for his part in the crime, he has also disqualified from being a company director for 6 years.
