LOCAL NEWS

$50 million yacht linked to Diezani’s ally sold

Galactica Star, a super yacht belonging to oil magnate, Kola Aluko, fingered in multi-billion dollar petrol import and crude export deals has been sold.

The yacht, valued at $50 million, was sold after the Nigerian government and U.S. Department of Justice secured a court order to forfeit the property.

Mrs Alison-Madueke, Mr Aluko and another accomplice, Jide Omokore , reportedly lavished billions of naira on property and luxury items in the U.S. and United Kingdom.

Mrs Alison-Madueke, Mr Aluko and another accomplice, Jide Omokore , reportedly lavished billions of naira on property and luxury items in the U.S. and United Kingdom.

The U.S. government also accused Messrs Aluko Omokore of laundering money in the United States and using it to acquire the yacht, among other assets.

Following prosecution, the US and Nigerian government, in 2016, instituted legal processes to enable it freeze local and foreign assets of the trio.

In a suit filed at the Houston Division of the United States District Court, the Nigerian government laid legal claim to all assets subject to forfeiture.

Nigerian government maintained that all of the properties are proceeds of theft, embezzlement or misappropriation.

“Nigeria is the innocent owner of all the claimed property and upon learning of the conduct giving rise to the forfeiture, did all that reasonably could be expected under the circumstances to terminate such use of the claimed property.

“By reason of the fraudulent, corrupt, criminal and otherwise wrongful means by which the conspirators obtained or derived all of the claimed property, the conspirators have no legal or equitable right, claim or interest therein but instead the conspirators and each of them were involuntarily trustees holding all of the claimed property and profits, proceeds or property traceable thereto in constructive trust for the claimant Nigeria, with the duty to convey the same to Nigeria forthwith,” Nigeria stated in its statement of interest.

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