Justice D. U. Okorowo of the Federal High Court in Abuja has convicted and wound up Marqott Nigeria Limited.
The firm is one of the thirty associated with the Process and Industrial Development Limited (P&ID) for alleged money laundering.
The company was found guilty of four count charges bordering on money laundering filed by the Economic and Financial Crimes Commission (EFCC).
Marqott was labelled “an accomplice in the $9.6bn Gas Supply and Processing Agreement between the Ministry of Petroleum Resources and P&ID”.
The firm, Giovanni Beccarelli, Valentina Fantoli, and Dimitri Duca (directors of and bank account signatories) were indicted.
The EFCC said, in September 2014 in Abuja, they failed to submit to the Ministry of Industry, Trade and Investment, a declaration of activities of Marqott Nigeria Limited.
The offence was contrary to Section 16(1) (f) and with Section 5(1)(a)(ii) of the Money Laundering (Prohibition) Act, 2011(as amended) and offence punishable under section 16(2)(b) of the same Act.
EFCC also accused them of failure to combat money laundering and failure to designate at management level a compliance officer.
The offence violates Section 16(1)(f) and Section 9(1)(a) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 16 (2)(b) of the same Act.
The company had upon arraignment on February 7, 2022 pleaded “not guilty” to the charges.
The EFCC presented several witnesses and documents as exhibits during trial.
Justice Okorowo found Marqott Nigeria Limited guilty of all charges and convicted it accordingly.
The judge ordered that the company be wound up and its entire assets forfeited to the Federal Government of Nigeria.
Newswire Law and Events Magazine is Out. It's a collector's item. Get one - or two,or more - for yourself and loved ones.