Michael Igbinedion, younger brother of Lucky Igbinedion, former governor of Edo state, was on Wednesday convicted by a Federal High Court, Benin Division, presided over by Justice A. M. Lima, in a N25 billion money laundering case instituted against him and five others by the Economic and Financial Crimes Commission, EFCC.
Others convicted in the 81-count charge of money laundering are Patrick Eboigbodin, a former Accountant-General and the four companies are Gava Corporation Limited, Romrig Nigeria Limited, PMI Securities Company Limited and PML (Nigeria) Limited.
The offence was committed during the administration of his brother, Lucky, when was he Governor of Edo State between 1999 and 2007.
Reading the judgement that lasted for over three hours, Justice Lima convicted the junior Igbinedion on counts 79, 80 and 81 which bothered on collecting cash payment above N500,000.00, while Patrick and PML (Nigeria) Limited were convicted on count 50, 51, 52, 53, 54, 55, 56, 57, 58 and 58 which bothered on collaboration to conceal origin of funds amounting to millions of naira paid into their private accounts.
Justice Lima who said the prosecution proved alleged collaboration beyond reasonable doubts, however discharged all the accused on other count charges because the prosecution failed to prove the allegations, noting that the prosecution only proved suspicion and failed to prove illicit origin of funds deposited in some banks.
Justice Lima however reserved their sentenced till Thursday, 30 April.