DIY store man admits £50m fraud

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The Independent Online

The former governor of one of Nigeria's richest oil-producing states – who had previously worked in a London DIY store – was jailed for 13 years after admitting a £50m fraud.

Before his arrest, James Ibori, was in the process of buying a $20m (£12.5m) jet aircraft and had already acquired several large homes and a number of luxury cars, the Crown Prosecution Service (CPS) said after the sentencing hearing.

The CPS vowed to find the fraudster's illegally obtained assets in a bid to recover some of the money, which according to the judge could total over £50m.