James Ibori Indicted With Tax Invasion In Panama

Picture of James Ibori
Picture of James Ibori

Panama reports indict former Delta state governor, James Ibori with a massive tax evasion scandal and allegations of corruption. Panama, known as a tax haven where many wealthy people go to invest their money due to the free tax laws in the country.

The reports from Panama-based offshore-provider, Mossack Fonseca, and shared by the International Consortium of Investigative Journalists (ICIJ), linked four offshore companies in Panama to Ibori, who is presently serving a 12 year jail term in the UK for stealing millions of dollars from the Delta state government when he served as governor of the state from 1999 to 2007.

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In 2012, Ibori pleaded guilty in a London court to laundering and fraud charges. During court hearings 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.


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