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Friday, June 8, 2012

Alleged N6.5Bn Fraud: Former Governor Of Bayelsa State, Timipre Sylva Secures N100M Bail

After spending two days in the custody of the Economic and Financial Crimes Commission, EFCC, former governor of Bayelsa State, Mr Timipre Sylva,  Thursday, regained his freedom after he deposited N100 million as bond.
Sylva is facing trial over allegation that he masterminded the illegal diversion of funds from the Bayelsa State treasury while he was in power.
Specifically, EFCC had in a charge it filed on February 24, accused Sylva of stealing, just as it identified three persons whose Bank accounts it said was used as conduits pipes for illicit transfer of funds secured through loan from Union Bank Plc in the name of the Bayelsa state government.

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