The companies were found guilty of money laundering offences and were convicted accordingly on Wednesday, according to the News Agency of Nigeria.

A Federal High Court in Abuja has ordered the closure of two companies, Trinity Biotech Nigeria Limited and Resorts Express Concept Nigeria Ltd, linked to the $9.6 billion Process and Industrial Development (P&ID) scandal. 

The companies were found guilty of money laundering offences and were convicted accordingly on Wednesday, according to the News Agency of Nigeria

In a judgment delivered by Justice Donatus Okorowo, the court ordered the winding up of the companies and the forfeiture of their assets to the Federal Government of Nigeria, despite the defendants’ absence from the trial.

Nigeria’s anti-corruption agency, Economic and Financial Crimes Commission (EFCC) had filed charges against the companies and their director, James Nolan, a British national who jumped bail and fled Nigeria. 

Despite his absence, the court proceeded with the trial and delivered the judgment.

Justice Donatus Okorowo, in two separate judgements, held that the two companies were found guilty of the money laundering offences and were accordingly convicted under the same Act.

Although the charges were amended in the course of the trial after Nolan, a director in the P&ID Ltd and the two companies, jumped bail and fled Nigeria, the EFCC applied that Nolan should be tried in absentia.

Nolan was declared wanted and an order was made for his arrest anywhere he was sighted.

The EFCC was prosecuting Trinity Biotech Nigeria Limited and Nolan in the charge marked: FHC/ABJ/CR/272/2022 as 1st and 2nd defendants in the case.

Also, the commission was also prosecuting a sister case marked: FHC/ABJ/CR/273/2022 filed against Resorts Express Concept Nigeria Ltd and Corrado Fantoli as 1st and 2nd defendants respectively before Okorowo.

Fantoli, also a foreigner and an associate of Nolan, was one of the suspects behind the alleged $9.6 billion P&ID fraud.

The suspect, said to be at large, alongside the company, was arraigned in absentia on November 25, 2022, on eight counts of money laundering.

He was not present in court or represented by a lawyer when they were arraigned.

The court also declared him wanted and ordered his arrest anywhere he was sighted after Sanga made an application to the effect.

Fantoli and Giovanna Beccarelli, who had also been declared wanted and an arrest warrant issued against her, were said to be directors and signatories to the company’s Guaranty Trust Bank account number: 0123849451.

Resorts Express Concept Nigeria Ltd and Trinity Biotech Nigeria Limited are two of the over 30 companies associated with the $9.6 billion scam.

Meanwhile, other cases linked to the scandal are currently before Justice Obiora Egwuatu and Justice Peter Lifu of FHC Abuja, besides other charges at FCT High Court.

SaharaReporters reported in October 2023 that Justice Robin Knowles of the Commercial Courts of England and Wales, a Business and Property Court in London, quashed the $11 billion awarded against Nigeria in a case filed by the P&ID.

In quashing the earlier judgement, Judge Knowles held that the award was obtained by fraud and that what had happened in the case was contrary to public policy.