ATIKU FIRST THING FIRST, VISIT AMERICA.

U.S Senate accuses Atiku & American Wife of $40m illegal transfer

• Posted by Weboga on February 5, 2010 at 8:08am

WASHINGTON DC —A REPORT on former Vice President, Atiku Abubakar was presented to the United State’s Senate yesterday.

The US Senate report which showed how funds were transferred on behalf of the former number two citizen showed that: “From 2000 to 2008, Jennifer Douglas, a U.S. citizen and the fourth wife of Atiku Abubakar, former Vice President and former candidate for President of Nigeria, helped her husband bring over $40 million in suspect funds into the United States, through wire transfers sent by offshore corporations to U.S. bank accounts.”

The report said: “In a 2008 civil complaint, the U.S. Securities and Exchange Commission, alleged that Ms. Douglas received over $2 million in bribe payments in 2001 and 2002, from Siemens AG, a major German corporation.

“While Ms. Douglas denies wrongdoing, Siemens has already pleaded guilty to U.S. criminal charges and settled civil charges related to bribery and told the Subcommittee that it sent the payments to one of her U.S. accounts.

In 2007, Atiku Abubakar was the subject of corruption allegations in Nigeria related to the Petroleum Technology Development Fund.

“Of the $40 million in suspect funds, $25 million was wire transferred by offshore corporations into more than 30 U.S. bank accounts opened by Ms. Douglas, primarily by Guernsey Trust Company Nigeria Ltd., LetsGo Ltd. Inc., and Sima Holding Ltd.

“The U.S. banks maintaining those accounts were, at times, unaware of her PEP status, and they allowed multiple, large offshore wire transfers into her accounts. As each bank began to question the offshore wire transfers, Ms. Douglas indicated that all of the funds came from her husband and professed little familiarity with the offshore corporations actually sending her money. When one bank closed her account due to the offshore wire transfers, her lawyer helped convince other banks to provide a new account.

“In addition, two of the offshore corporations wire transferred about $14 million over five years to American University in Washington, D.C., to pay for consulting services related to the development of a Nigerian university founded by Abubakar.

“American University accepted the wire transfers without asking about the identity of the offshore corporations or the source of their funds, because under current law, the University had no legal obligation to inquire.