Terry Waya, a 43 year-old Nigerian businessman was yesterday ordered to pay a �1,540,000 confiscation order at the Southwark Crown Court in London, United Kingdom.
He is to pay the full amount within six months or face 30 months imprisonment for default. Waya is also to pay �5,000 prosecution fees within three months.
Waya was arrested in November 2005 on suspicion of money laundering and was linked to Diepreye Alamieyeseigha, the former governor of Bayelsa State. Alamieyeseigha has since been convicted in Nigeria for theft and money laundering.
The �1,540,000 is judged to be the benefit of �his criminal activities� and represents the current value of his London property.
Detective Chief Inspector Sean Wanless, of the London Metropolitan Police�s Economic and Specialist Crime Command said: “This was a complex investigation, which led to a professional criminal being deprived of the profits of his crime – once again sending a strong message to those involved in criminal activity that crime does not pay. The Met police will be vigorous in the pursuit of those who assist corrupt politically exposed persons.”
Waya in October 2005, offered to pay �500,000 bail security on behalf of Alamieyeseigha in the UK after the former governor was arrested for alleged money laundering by the London Met police.
However, enquiries by his bank and the police raised concerns about Waya�s finances and the bank decided to close his account.
The London Met subsequently arrested Waya in November 2005 on suspicion of money laundering. Officers from the Met�s money laundering investigation team seized a banker�s draft for �543,000 from him.
This bankers draft had been sent to him by his bank and represented the closing balance of his accounts.
Waya was charged with two counts of obtaining money transfers by deception on September 11, 2006.
He was found guilty of obtaining money transfers by deception in relation to a mortgage of �465,000 with G.E. money to buy his London property at 18A Northgate, Prince Albert Road, London.
He was said to have given false information in his application about his status, his current employment, date of birth and other details.
The second count relates to a re-mortgage he took out for �838,000 with Birmingham Midshires Bank of which he was found not guilty.
On 7th August 2007, he was sentenced at Southwark Crown Court and received 80 hours community service order.
Apart from Alamieyeseigha, Waya is known to be close to several other former governors accused of corruption during the Obasanjo regime. They include Jolly Nyame of Taraba State and Joshua Dariye of Plateau State.
Jan262008