UK High Court Orders 19 Financial Institutions to Freeze Accounts Linked to Abacha

The court order follows the discovery by the U.K. Financial Services Authority (FSA) that 23 London banks had handled $1.3 billion on behalf of the family and friends of Gen. Abacha. The order directs the banks to freeze accounts and return any funds to Nigeria. They are required to also return any profit made on the transactions and pay the Nigerian Government’s costs. Investigators hope to find evidence that would help them to continue following the trail and recover substantial amounts