Ex-Goldman Banker Can't Overturn £7.3M Confiscation Order

Law360, London (February 23, 2021, 5:03 PM GMT) -- A London court has rejected a challenge brought by a former Goldman Sachs banker against an order to repay £7.3 million ($10.3 million) for laundering millions of dollars stolen by a Nigerian politician, ruling on Tuesday that the confiscation proceedings were fair.

Ellias Preko, who was jailed in 2013 for helping James Ibori launder public funds funneled from Nigeria while he was governor of the oil-rich Delta State, argued at the Court of Appeal that the confiscation proceedings should have been adjourned when he sacked his legal team over a conflict of interest the day before the hearing.

Preko's lawyer David...

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