Nigerian billionaire businessman and Managing Director of Ontario Oil and Gas, Walter Wagbatsoma has been convicted by the Lincoln Magistrates’ Court, UK has for money laundering.
Walter who was detained earlier in the year in Germany after Lincolnshire Police issued a European Arrest Warrant on him was alleged to have been involvement in a multi-million pound fraud.
15 other suspects who were charged with before him on same offences of conspiracy to defraud, money laundering and conspiracy to money launder, had earlier been tried and convicted.
Acxording to the wingless birds, Wagbatsoma was found guilty last week and is presently in UK prisons awaiting sentencing.
Recall that he was also jailed earlier in the year by a Lagos Court,Nigeria over the N1.9 billion fuel subsidy fraud charge levelled against him and his managing director, Adaoha Ugo-Nnadi and their company, Ontario Oil for N754 million subsidy fraud preferred against them by Economic and Financial Crimes Commission (EFCC).
Justice Okunnu sentenced Walter Wagbatsoma, who is the first defendant, was not in court and Adaoha Ugo-Nnadi  to 10 years in prison for fuel subsidy fraud.