• Controversial Oil Tycoon, Kola Aluko Sells Los Angeles Mansion For $21.5m, Loses $3m

    Controversial Oil Tycoon, Kola Aluko Sells Los Angeles Mansion For $21.5m, Loses $3m

    Kola Aluko, controversial Nigeria’s oil tycoon has sold his Bel-Air, Los Angeles mansion, as Nigerian and European authorities investigate him for a series of money-laundering and fraud-related crimes.

    According to Los Angeles Times and Forbes, Aluko sold the home last week for $21.5 million, taking a $3 million loss after purchasing the sprawling residence in 2012 for $24.5 million.

    Aluko, 46, apparently sold the residence in an off-market transaction using a limited-liability company. An off-market sale in real estate refers to a […]