Justice Emeka Nwite of the Federal High Court in Abuja has ordered the closure of two companies linked to James Nolan, a British national facing trial for his involvement in the Process and Industrial Developments Limited (P&ID) fraud case.
In two separate judgments, Justice Donatus Okorowo found the companies guilty of money laundering offenses and subsequently ordered their dissolution and the forfeiture of their assets to the federal government.
The Economic and Financial Crimes Commission (EFCC) is prosecuting Trinity Biotech Nigeria Limited and James Nolan, as well as Resorts Express Concept Nigeria Ltd. and Corrado Fantoli, the first and second defendants respectively.
Fantoli, an associate of Nolan, is one of the suspects behind the alleged $9.6 billion P&ID fraud.
He was arraigned in absentia on November 25, 2022, on an eight-count money laundering charge and is currently at large.
The court has declared him wanted and ordered his arrest after an application by the EFCC counsel.
Resorts Express Concept Nigeria Ltd. and Trinity Biotech Nigeria Limited are among over 30 companies associated with the $9.6 billion P&ID scam.
Meanwhile, Nolan is facing separate charges before different judges. In September 2022, a federal high court in Abuja revoked his bail and issued a bench warrant for his arrest after he failed to appear in court.