A Federal High Court sitting in Abuja has found former chairman of the defunct Pension Reformed Task Team, Abdulrasheed Maina, guilty of money laundering.

Giving his judgement on Monday, Justice Okon Abang, ruled that Maina is guilty of money laundering in the sum of N171,099,000.

The ex-pension boss was also found guilty of concealing his true identity as a signatory to accounts opened in two banks, UBA and Fidelity Bank, by using the identity of his family members without their knowledge.

These accounts had cash deposits of N300million, N500million, and N1.5billion

The court held that Maina stole funds meant for pensioners as he could not prove where he got them from.

Maina had called only one witness during his defence in the case instituted by the Economic and Financial Crimes Commission.