Ex PRTT Chairman, Abdulrasheed Maina sentenced to 8 years imprisonment for money laundering~details below

 Abdulrasheed Maina the former chairman of the Defunct Pension Reform Task Team (PRTT) has been sentenced to 8 years imprisonment by the federal High Court in Abuja on Monday over his fraud case.

The Economic and Financial Crimes Commission (EFCC) had arraigned Mr Maina before Mr Abang, on October 25, 2019, and firm, Common Input Property and Investment Ltd

He was sentenced to serve eight years jail term for looting two  billion naira pensioners fund, of which many of the pensioners had died without getting their pensions.

The judge who made the judgement is Okon Abang, he was convicted of counts 2, 6, 9, 3, 7 and 10 in the charge filed against him by the Economic and Financial Crimes Commission (EFCC).

According to the Judge Okon Bang, he said that "Mr Maina desperately looter over N2 billion belonging to pensioners most of whom have died without reaping the fruits of their labour,”

“I find the defendant (Mr Maina) guilty and convicted in count 2, 6, 9, 3, 7 and 10,” he said.

Meanwhile, while passing the judgement, the judge said the prosecution established that Mr Maina had purchased properties in Abuja with $1.4million cash without passing through a financial institution. The amount, the judge said, was far above the cash transaction threshold of five million naira.

The judge had also ruled that the prosecution had proved that Mr Maina concealed his true identity as signatory to accounts opened in two new generation banks by using the identity of his family members without their knowledge.

The sums of 300 million, 500 million and 1.5 billion which, according to the judge, were stolen by Mr Maina from pensioners, were deposited in the account.

While trying to ascertain his networth the judge said that, Mr Maina could not explain the source of the money, the judge ruled, adding that the convict could not have legitimately earn the sums of money from his salary and emoluments.

A month ago, the court jailed Mr Maina’s son, Faisal, after finding him guilty on all three counts of money laundering involving N58.1million in public funds.

There has been no report that Faisal, who faced a trial separate from his father, has been apprehended and put in jail.