Abdulrasheed Maina, former chairman of the nowdefunct Pension Reform Task Team, was convicted on Monday by the Economic and Financial Crimes Commission (EFCC) (PRTT).
Following a N2.1billion pension swindle, a Federal High Court in Abuja condemned Maina to eight years in prison.
Earlier this year, the EFCC charged Maina with money laundering on a 12-count indictment, but he pleaded not guilty. Justice Okon Abang, on the other hand, ruled the accused guilty.
Following the conviction, the anti-graft agency conducted an in-depth investigation into the offenses perpetrated by the ex-pensions boss.
According to a statement issued by the Commission, the following properties and huge funds were discovered while investing Maina.
- Property in Jabi, Abuja worth $1.4 million (paid in cash).
- Luxurious mansion in Dubai
- Maina’s company – Northrich Company owned over 50 cars.
- Colster Logistics, belonging to Maina received an inflow of over $400,000 from cash deposits.
- Over N500 million was discovered in the account of Kangolo Dynamic, within the years Maina was chairman of PRTT. (The company has never carried out any service or contract).
- Property worth $2 million in Jabi, Abuja.
- Two accounts belonging to Maina hold cash deposits of N300 million, N500 million, and N1.5 billion.
- Properties in the United Arab Emirates and the United States.
Following the establishment of his sentence, the court ordered Maina and his corporation – Common Input Property and Investment Limited – to return to the Federal Government approximately N2.1 billion that was tracked to their bank accounts, following which the company was ordered to be wound up.