Fingered in the Panama Papers leak is James Ibori, governor of Nigeria’s oil-rich Delta State from 1999 to 2007, who pleaded guilty in a London court in 2012 to conspiracy to defraud and money laundering offenses.
Probably the biggest leak of data ever, the Panama Papers is a huge leak of confidential documents revealing how the rich and powerful use tax havens to hide their wealth.
In 2012, Mr Ibori, pleaded guilty in a London court to conspiracy to defraud and money laundering offenses.
Ibori admitted using his position as governor to corruptly obtain and divert up to $75 million out of Nigeria through a network of offshore companies, although authorities alleged that the total amount he embezzled may have exceeded $250 million. Ibori, who received a 13-year prison sentence, used millions of dollars to support a lavish lifestyle that included six houses in London and a fleet of Range Rovers, Bentleys and Mercedes.
According to the leaked data, Mossack Fonseca was the registered agent of four offshore companies connected to James Ibori, including Julex Foundation, of which Ibori and family members were beneficiaries.
Julex was the shareholder of Stanhope Investments, a company incorporated in Niue in 2003. Ibori was also connected to Financial Advisory Group Ltd. and Hunglevest Corporation, although Mossack Fonseca’s files do not specify the exact nature of his connection.
In 2008, Mossack Fonseca received a request from the Seychelles government to produce documents as part of a probe by the Crown Prosecution Service, England's principal prosecuting authority, of Ibori and alleged criminal activities.
During his court hearings in 2012 in the United Kingdom, prosecutors claimed that Ibori opened a Swiss bank account in the name of Stanhope Investments through which millions of dollars were later channeled to ultimately buy a $20 million private jet.