JUSTICE Emeka Nwite from the Federal High Court in Abuja has mandated the closure of two companies connected to James Nolan, a British citizen undergoing trial for his involvement in the alleged Process and Industrial Developments Limited (P&ID) fraud.
In separate rulings, Justice Donatus Okorowo held that the two companies were culpable of money laundering offenses.
Consequently, he instructed that the companies be liquidated and their assets handed over to the federal government.
The Economic and Financial Crimes Commission is handling the cases of Trinity Biotech Nigeria Limited and Nolan, as well as prosecuting Resorts Express Concept Nigeria Ltd and Corrado Fantoli as first and second defendants.
Fantoli, an accomplice of Nolan, is a suspect in the alleged $9.6 billion P&ID fraud.
Despite being absent during arraignment on eight counts of money laundering charges on November 25, 2022, Fantoli was declared wanted by the court.
Resorts Express Concept Nigeria Ltd. and Trinity Biotech Nigeria Limited are two among the over 30 companies associated with the P&ID scam.
Separately, Nolan faces multiple charges across various court jurisdictions, with his bail being revoked by a federal high court in Abuja in September 2022.
Subsequently, a bench warrant was issued for Nolan’s arrest due to his non-appearance in court proceedings.
