Oghenochuko Ojiri, an art expert known for appearances on TV, has been sentenced to two and a half years in prison after failing to report high-value art sales totaling approximately £140,000 to Nazem Ahmad, linked to Hezbollah financing. His activities violated the Terrorism Act and brought to light the art market's vulnerability to money laundering. The case highlights legal and regulatory challenges in the art world, especially following new money laundering regulations introduced in 2020. Ojiri's conviction is noted as unprecedented within this specific legal context.
Oghenochuko Ojiri, convicted for failing to report art sales linked to Hezbollah financing, is sentenced to over two years in prison, marking a pivotal legal case.
Ojiri sold approximately £140,000 worth of artwork to Nazem Ahmad, a suspected financier of Hezbollah, raising serious concerns about art market regulations.
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