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Accused Of Money-Laundering, Kola Aluko Sells $24.5million LA Mansion For Less

Mr. Kolawole Aluko

Nigerian oil tycoon, Kola Aluko, currently under investigation by the Economic and Financial Crimes Commission over his alleged role in a multibillion-dollar money-laundering scheme involving former Petroleum Resources Minister, Mrs. Deziani Alison-Madueke, has sold his Bel-Air, Los Angeles-California mansion for $21.5 million, after purchasing the sprawling residence in 2012 for $24.5 million, the Los Angeles Times reports.

Designed by architect Paul McClean and built in 2011, the contemporary-style home is built on over an acre of land, with a gated entrance, a subterranean garage and a 132-square-foot infinity-edge swimming pool.

As Nigerian and European authorities investigate him for a series of money-laundering and fraud-related crimes, Aluko sold the home last week for $21.5 million, taking a $3 million loss.

The 46-year old Aluko reportedly sold the property in an off market transaction which closed in April.