REVEALED: How Police Pension Boss Stole N24bn, Built 22 Houses [PHOTO]

Revelations have emerged on how Esai Dangabar, a former Director of the Police Pension Fund stole a whooping N24bn, and built 22 houses, The Punch reports.

An Economic and Financial Crimes Commission witness, Mr. Mustapha Gadanya, who was also part of those who investigated the matter said Dangabar lodged the stolen money in various banks as fixed deposits.

Speaking before a FCT High Court, Gadanya who gave details of how the money was laundered, revealed that the accused deposited N320m in Skye Bank between May 2008 and July 2009 for his companies, Marine Logistics and leisure Integrated Ltd.

The turnover of the N320m amounted to N249.8m and N241m, respectively which was later sent to the Federal Government after it was discovered.

He informed the court that between February 2009 and June 2010, Dangabar was assisted by the manager of Syke Bank, Jabi branch, to launder about N840m.

The witness told the court that Dangarbar built 16 duplexes at Wuye District and six flats at Efab, in Abuja.

The houses have since been forfeited to the Federal Government.

The trial judge, Justice Husseni Baba-Yusuf, adjourned the case till Thursday (today) for continuation of hearing.