A FEDERAL HIGH COURT HAS ORDERED THAT $300,000 BELONGING TO A CHINESE NATIONAL BE FORFEITED TO THE FEDERAL GOVERNMENT.
Justice Babatunde Quadri of Federal High Court, Abuja, said in his judgment on Monday, that Li Yan Ping failed to declare the sum in his possession as he attempted to leave the country.
Yan Ping was arrested by officials of the Economic and Financial Crimes Commission – EFCC, at the Nnamdi Azikiwe International Airport, Abuja while trying to board a flight to China en-route Dubai.
Justice Quadri also agreed that the prosecution had proved beyond reasonable doubt that the Chinese engaged in money laundering.
He found the defendant guilty of the charges, according to Section 2, sub-section (5) of the Money Laundering Prohibition Act, 2011, as amended in 2012.