Paulinus Iheanacho Okoronkwo, a senior official of the Nigerian National Petroleum Company (NNPC), has lost a $2.5 million mansion in Los Angeles to the U.S. government after his conviction for money laundering.
On October 3, 2025, Judge John Walter of the U.S. District Court in California ordered the property forfeited.
The order directed the seizure and transfer of Okoronkwo’s luxury home at 25340 Twin Oaks Place, Valencia, to the U.S. government.
According to court documents obtained by Peoples Gazette, the mansion came from proceeds of illegal financial transactions.
The property, identified as Tract No. 45433, Lot 12, violated U.S. money-laundering laws.
U.S. prosecutors secured Okoronkwo’s conviction on three counts of money laundering after a detailed superseding indictment.
The court found a clear connection between his offences and the Los Angeles mansion.
As a result, the judge ruled the property subject to forfeiture.
Assistant U.S. Attorney Alexander Su, who filed the forfeiture motion, confirmed the government could seize and sell the asset immediately.
He said the Attorney General would notify any third parties with potential claims.
The court stated that the forfeiture would become final at sentencing.
It would form part of Okoronkwo’s punishment and grant the government full ownership once third-party claims are settled.
The case, United States v. Paulinus Iheanacho Okoronkwo (Case No. 2:24-CR-20(A)-JFW), forms part of a wider U.S. probe into global financial crimes.
Investigators are targeting politically exposed persons from Nigeria and several other countries.
Okoronkwo’s conviction adds to a growing list of Nigerian officials and business executives losing U.S. assets linked to illicit offshore funds.
