Benedict Peters’ earnings, assets legitimately acquired – Court

This judgment followed the earlier dismissal of money laundering charges against the businessman. Justice Valentine Ashi gave the verdict on December 7 while ruling on a suit challenging the ownership of assets and properties belonging to the Aiteo chief. In a suit number FCT/HC/CV/ 0091/ 17, the plaintiff, Moses Uyah alleged that Peters’ acquisition of several assets was fraudulent because he was unable to account for income or earnings from which such acquisitions were made. He asked the court to rule that the Aiteo chief’s acquisitions of the properties were illegitimate; that he was also living above his means and the funds utilized for the purchases were the proceeds of corrupt activities. Uyah also asked the court to order the forfeiture of the assets to the Federal Government. Peters, in response, presented to the court evidence to demonstrate his sound business practices of over 25 years in the oil and gas industry. Justice Ashi in his ruling said: “There was no evidence to support the suggestion that any aspect of his business showed any criminal conduct and as such, the allegations were baseless. “With the evidence produced in court, the respondent (Peters) had established that he had a credible and verifiable means of livelihood, had substantial personal wealth to fund, did legitimately fund the acquisition of the properties identified in the proceedings and therefore could not be accused of living above his means.” The judge added that there was no evidence to support the suggestion that any aspect of the respondent’s business showed any criminal conduct and as such, the plaintiff’s allegations were baseless. He dismissed the case, saying “said assets and properties having been legitimately acquired by the defendant cannot be forfeited to the government under any circumstances.” The judge also restrained the security agencies, any individual or group from disturbing Peters from enjoying his “legitimately acquired” assets. The assets in question are – 58 Harley House, Marylebone Road, London (£2.8m), apartment 4, 5, Arlington Street, London (£11.8m), Flat 5, 83-86, Prince Albert Road, London (£3.75m), and other assets of Aiteo Energy Resources ($4.023bn. Others are monies in Account No 105277 in FBN Bank (UK) in the name of Mr. B and Mrs. N. Peters, monies in Account No 107127 in FBN Bank (UK) of Walworth Properties Limited, the sum of £36,674.7 held on behalf of defendant in the client Account of Clyde and Co. LLP, London, the sum of £40,620 held in the correspondent Bank Account at Ghana International Bank, London and shares in Walworth Properties Limited, Rosewood Investments and Colinwood Limited.]]>