Money Laundering: Oil Magnate, Kola Aluko Sells His $24.5m Bel-Air Mansion At A Loss



Embattled Nigerian oil tycoon Kolawole Aluko, who is currently under investigation by the Economic and Financial Crimes Commission (EFCC) and European authorities for his alleged role in a multibillion-dollar money-laundering scheme involving former Petroleum Resources Minister, Deziani Alison-Madueke, (Read here if you missed) has sold his Bel-Air, Los Angeles Mansion.

According to Los Angeles Times, Aluko sold his contemporary-style home in the 700 block of Sarbonne Road, for $21.5 million using a limited-liability company in a deal that closed off-market (i.e. without any public advertising).

Forbes reports that the sale was at a loss of $3 million as the 46-year-old had purchased the sprawling residence in 2012 for $24.5 million.

Designed by architect Paul McClean and built in 2011, the mansion sits on more than an acre, with a gated entrance, a subterranean garage and a 132-square-foot infinity-edge swimming pool.





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