A federal high court in Abuja has ordered the closure of two companies, Trinity Biotech Nigeria Limited and Resorts Express Concept Nigeria Ltd., linked to the $9.6 billion P&ID fraud.
Gatekeepers News reports that the companies were found guilty of money laundering offences and their assets have been forfeited to the federal government.
James Nolan, a British national, and his associates, including Corrado Fantoli, are facing trial over their involvement in the scam. Fantoli, who is at large, was arraigned in absentia and the court has declared him wanted.
The Economic and Financial Crimes Commission (EFCC) is prosecuting the cases.
