By Paul Joseph
A district court in the United States has sentenced Paulinus Okoronkwo, a dual citizen of the US and Nigeria, to over seven years in prison for money laundering linked to a $2.1 million bribe.
The 58-year-old Okoronkwo was found guilty in August by a federal jury on three counts of money laundering under 18 U.S.C. § 1957, as well as charges of tax evasion and obstruction of justice.
Following his conviction, the State Bar suspended his law license on an interim basis in January.
Prosecutors stated that Okoronkwo accepted the bribe while he was the general manager of the Nigerian National Petroleum Corporation, a government-owned oil company.
Court documents reveal that the bribe was allegedly paid by Addax Petroleum, a Swiss subsidiary of the Chinese state-owned petrochemical giant Sinopec.
Prosecutors claimed that in October 2015, Addax transferred $2.1 million to Okoronkwo’s legal trust account, supposedly for consulting services related to obtaining drilling rights in Nigeria.
They alleged that the payment was disguised as legal fees through an engagement letter that included a fictitious address in Lagos.
In a sentencing memorandum submitted last month, prosecutors suggested a 10-year prison sentence.
The memorandum stated: “The defendant was more fortunate than most. In the United States, he was a member of the state bar and ran a successful legal practice. In Nigeria, he used his connections to secure a prestigious position as general manager of the Nigerian National Petroleum Corporation, the largest corporation in the country. However, he sought more, and when Addax Petroleum faced challenges, he eagerly accepted a $2.1 million bribe to assist in obtaining favorable drilling rights.”
They continued: “After betraying the people of Nigeria, the defendant committed various crimes in the United States to cover his actions: he laundered the bribe money through his trust and shell company accounts, omitted it from his tax return, and lied to federal agents during interviews. For these actions, he was convicted after a four-day jury trial on all five counts of the indictment.”
Prosecutors indicated that between 2016 and 2018, Okoronkwo used the funds for family expenses, to buy a vehicle, and to make a $983,000 down payment on a home in Valencia, California.
US District Court Judge John F. Walter ordered Okoronkwo to pay $923,824 in restitution to the Internal Revenue Service and to forfeit $1.03 million.
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