Embattled Oil Baron, Walter Wagbatsoma Changes Strategy, Falls Back On Political Solution As Court Orders Continuous Trial In N1.9b Subsidy Theft!

Embattled Oil Baron, Walter Wagbatsoma has changed strategy in efforts to wriggle out of the noose of N1.9b fuel subsidy around on his neck.

Insiders disclosed the man indicted for the mega scam along with business associate, Adaoha Ugo – Ndagi and Ontario Oil and Gas Limited is currently exploring what is identified as ‘political solution’ to get out of troubled waters.

This development comes on the heels of his failure to put on stop to ongoing trial of the matter in the court for the third time.

A Lagos Division of the Court of Appeal has ordered continuous prosecution of Wagbatsoma and his accomplices for charge
Walter Wagbatsoma

brought against them by anti corruption agency, Economic and Financial Crimes Commission.

The court perfected the move by affirming the jurisdiction of Lagos High Court, Ikeja to entertain the N1.9billion oil subsidy theft charge

The court knocked off the three grounds on which Wagbatsoma and others attempted to quash the case by kicking against the jurisdiction of the lower court and ordered accelerated hearing of the matter.

Insiders revealed with this development, the embattled money man has increased efforts to lobby promoters of incoming government for a bail out.

The government keen to bring him to book for wrong business practise as led by President Goodluck Jonathan just lost efforts at re election.

And is set to hand over to a new a new administration made up of opposition party of 16years on May 29.

Sources divulged Wagbatsoma and his handlers are currently lobbying promoters of the incoming government portraying his case as that of victimisation.

He is said to be working on the sentiments of conflicts with Petroleum Minister, Diezani Madueke landing him on the other side of power.

Those who should know however claim though Wagbatsoma and Madueke have ongoing conflict, but it is outside of discoveries illegalities that earned the money man indictment for mega fraud.

However here are links for background on the embattled oil baron’s relationship with the Petroleum Minister and other dramas that led to the current search for political solution

http://www.societynowng.com/After-Losing-Out-Of-Lucrative-Govt-Biz-Over-Multiple-Relationships-With-Diezani-Madueke-Stella-Oduah-Ontario-Boss-Walter-Wagbats

http://societynowng.com/Again-Billionaires-Walter-Wagbatsoma-Adaoha-Ugo-Ngadi-Fail-To-Stop-N1-9bn-Oil-Subsidy-Case

http://societynowng.com/Oil-Man-Walter-Wagbatsoma-Moves-Family-Abroad-In-Face-Of-Prosecution-For-N1-2b-Subsidy-Fraud