EFCC secures final forfeiture of $300,000 from Chinese national

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The Economic and Financial Crimes Commission has secured the final forfeiture of $300,000 belonging to a Chinese national

The final forfeiture order was granted by Justice Babatunde Quadri of the Federal High Court, Abuja

The Chinese national identified as Yan Pin stood trial for a money laundering charge, leveled against him by the commission

The Economic and Financial Crimes Commission (EFCC) on Monday, May 11, secured the final forfeiture of $300,000, belonging to a Chinese national, Li Yan Pin, to the federal government.

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This was revealed in a statement shared on the commission’s official Facebook page.

Justice Babatunde Quadri of Federal High Court, Abuja, had earlier ordered the interim forfeiture of the money following an exparte application filed by the anti-graft agency.

In the court ruling, Justice Quadri while ordering the money to be forfeited to the federal government, saved the convict a jail term on the ground that he had earlier filed for a medical leave over alleged COVID-19 symptoms.

Yan Pin stood trial for a money laundering charge, leveled against him by the EFCC over the said sum.

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Intelligence report led to Pin’s arrest at the Nnamdi Azikiwe International Airport, Abuja, after he failed to declare the money in his possession, as he attempted to board a flight to China en-route Dubai.

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