Murray-Bruce May Have Used Union Bank Loan To Purchase $5M in US [SAHARA REPORTERS]

SAHARA REPORTERS has a report which shows that Commonsense Senator, Ben Murray-Bruce may have diverted the N11billion loan obtained by his company for personal use. 

 

An investigation by SaharaReporters has revealed that Bayelsa Senator Benjamin Murray-Bruce may have illegally diverted a loan he obtained from Union Bank of Nigeria to purchase a posh property in Beverly Hills, California in 2007. Mr. Murray-Bruce has been in the spotlight lately after the Asset Management Corporation of Nigeria (AMCON) on June 23, 2016 seized several of his Silverbird media companies for failing to make payments on billions of naira in loans. 

Mr. Murray-Bruce, the self-proclaimed Commonsense Senator, was one of the most vocal senators during the #BuyNaijaToGrowTheNaira, a movement that criticizes those who needlessly import foreign goods. He touted his reputation for building businesses in Nigeria to champion the importance of domestic investment in goods.

Several banking sources in Nigeria told SaharaReporters that the N11 billion loan Mr. Murray-Bruce took out from Union Bank around 2007 was supposed to be used to construct the Abuja Entertainment Center. According to the sources, instead of using the loan to fund his Nigerian business operations, Mr. Murray-Bruce diverted it to purchase an opulent property in the Beverly Hills area of Los Angeles and London.

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SOURCE: SAHARA REPORTERS