An art dealer who has appeared as an expert on the BBC programme Bargain Hunt has admitted failing to report his dealings with a suspected Hezbollah financier.
The court heard that Oghenochuko Ojiri sold artwork to Nazem Ahmad but did not tell the authorities despite knowing Ahmad had been under US sanctions over links to the proscribed organisation.
On Thursday, Ojiri became the first person to be charged with such an offence. He pleaded guilty to eight counts relating to a period between October 2020 and December 2021 at Westminster magistrates court on Friday.
The prosecutor, Lyndon Harris, told the court Ojiri negotiated art sales to the value of £140,000 and congratulated Ahmad on his purchases. He added that the art dealer had read news reports referring to sanctions against Ahmad and was party to conversations in which it was said his links to Hezbollah were common knowledge.
Harris told the court: “At the time of the transactions, Mr Ojiri knew Mr Ahmad had been sanctioned in the US. Mr Ojiri accessed news reports about Mr Ahmad’s designation and engaged in discussions with others about his designation.
“There is one discussion where Mr Ojiri is party to a conversation where it is apparent a lot of people have known for years about his terrorism links.”
Harris said Ojiri “dealt with Mr Ahmad directly, negotiated the sales of artwork and congratulated him on those sales”.
US prosecutors say Ahmad was a “major Hezbollah financial donor” who used high-value art and diamonds to launder money and fund the group. He is accused of evading terrorism sanctions by using front companies to acquire more than $160m (£120m) in artwork and diamond services.
After new money laundering regulations were introduced in January 2020 that brought the art market under HMRC supervision, Ojiri is said to have discussed the changes with a colleague, indicating awareness of the rules.
District Judge Clarke granted bail but ordered Ojiri to surrender his passport and not to apply for international travel documents.
Ojiri will be sentenced at the Old Bailey on 6 June. The offence carries a maximum sentence of five years in prison.
