The USA Senate’s powerful Permanent Subcommittee gives a report on the Investigations and indictment of former Vice President Atiku Abubakar, as released a 328 pages document in which the former Vice President, was indicted for grandeur theft and money laundering of over $40 million into the USA. Atiku’s case is covered between pages 173 to 242 of the document, the permanent Subcommittee on Investigations was chaired by Senator Carl Levin.
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, In 2004, the then President Bush barred Atiku from being issued visa to the United States, in 2007 Mr. Atiku 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 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.
the US Senate’s probe was motivated by US government concern about corruption in the Third World and its corrosive effects on the development of honest government, democratic principles, and the rule of law, which in turn is to be blamed for distorting markets, deterring investment, deepening poverty, undermining international aid efforts and fostering crime.