WASHINGTON D.C. — The U.S. froze more than $458 million that was hidden in bank accounts around the world by former and now-deceased Nigerian dictator Sani Abacha, according to a civil forfeiture complaint unsealed today.
The federal government also seeks to recover more than $550 million in connection with the largest Kleptocracy forfeiture brought by the U.S. Department of Justice.
This case was brought under the Kleptocracy Asset Recovery Initiative where money stolen by corrupt foreign officials is returned for the benefit of people who were harmed by this theft.
“General Abacha was one of the most notorious kleptocrats in memory, who embezzled billions from the people of Nigeria while millions lived in poverty,” said Acting Assistant Attorney General Mythili Raman. “This is the largest civil forfeiture action to recover the proceeds of foreign official corruption ever brought by the department. Through our Kleptocracy Initiative, we are seizing the assets of foreign leaders who steal funds that properly belong to the citizens they serve. Today’s action sends a clear message: we are determined and equipped to confiscate the ill-gotten riches of corrupt leaders who drain the resources of their countries.”
The U.S. says this money was stolen from Nigeria through corruption during and after the military regime of General Abacha who was president of that country through a military coup on Nov. 17, 1993 until his death on June 8, 1998, according to the Justice Department.
The civil lawsuit alleges that General Abacha, his son Mohammed Sani Abacha, their associate Abubakar Atiku Bagudu and others embezzled, misappropriated and extorted billions from the government of Nigeria and others. They would then laundered the money by buying bonds backed by the U.S. and its financial institutions.
The investigation was conducted by the FBI.