For years, the Economic and Financial Crimes Commission pursued a money laundering case against the Chairman of Bi-Courtney Limited, Dr. Wale Babalakin. He was accused of laundering funds for former Delta State Governor, James Ibori. The kernel of the case was built on an alleged indictment by the Metropolitan Police. But, nowhere in a 16-page Metropolitan Police document obtained by THISDAY was the billionaire lawyer mentioned.
Since 2012, the Chairman of Bi-Courtney Limited, Dr. Wale Babalakin has been in and out of court in an intense legal battle with the Economic and Financial Crimes Commission (EFCC). The latter claimed Babalakin and his company were privy to the money laundering scandal associated with a former Governor of Delta State, James Ibori. But three years after, the commission couldn't prove its case beyond doubt. In February, a Lagos High Court discharged Babalakin and four others over allegation of N4.7 billion fraud preferred against them by the EFCC.
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