
Judge calls for more JP Morgan disclosure in OPL 245 case
JP Morgan must provide more documents to Nigeria, as the two sides duke it out over payments in connection to the OPL 245 scandal.
JP Morgan must provide more documents to Nigeria, as the two sides duke it out over payments in connection to the OPL 245 scandal.
Justice Calver handed down a judgement this morning, following a hearing that took place on May 5.
Nigeria welcomed the ruling. A representative said JP Morgan had been required “to disclose documents from 5 further senior executives and compliance officers at the bank who were involved in signing off on US$875 million of fraudulent payments in connection with the OPL 245 scandal and in US compliance investigations carried out shortly before the bank decided to pay out anyway”.
The bank should give a “clear and unambiguous account of exactly how the decisions to make these huge payments were made when it was on notice that to pay out risked its customer, Nigeria, being defrauded,” the representative continued.
“Justice will be sought for the people of Nigeria, who will be pleased the trial will begin early next year.”
Calver’s ruling set out a number of searches JP Morgan must carry out. Among those named to comply with the order are Pamela Johnson, Lester Pataki and John Gibbons, high-ranking executives at the bank. read more
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