Oghenochuko ‘Ochuko’ Ojiri, 53, of west London, pleaded guilty to eight counts of “failing to make a disclosure during the course of business within the regulated sector”, following a police probe into “terrorist financing”.
Mr Ojiri faced the first charge of its kind under section 21A of the Terrorism Act of 2000.
The Met said that the offences occurred between October 2020 and December 2021.
Appearing in a grey suit and dark tie, Ochuko Ojiri confirmed his name, date of birth and address and had the charges read out to him.
Asked to provide a plea, Mr Ojiri paused before quietly replying “guilty.” He was asked if he had pleaded guilty to all eight counts and he confirmed that he had.
The Met has said that the investigation into Mr Ojiri related to his dealings with Nazem Ahmad, a suspected funding source for Hezbollah.
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Mr Ahmad, 60, a dual Belgian-Lebanese citizen, has been sanctioned by Britain and the US.
Westminster Magistrates’ Court heard that Mr Ojiri had accessed news reports about Mr Ahmad’s designation and had discussed this with him and others.
The prosecutor referred to one discussion where Mr Ojiri is party to a conversation where “a lot of people have known for years about Mr Ahmad’s terrorist links.”
The court heard that on 10t January, 2020, money laundering regulations came into force bringing the arts sector under HMRC supervision.
Mr Ojiri discussed these regulatory changes with a colleague, the court heard, understanding that this new regime applied to him and his business.
But while he contracted a third party who advises on compliance matters to give advice, he did not properly act upon it.
Mr Ojiri’s case has been sent to the Central Criminal Court for sentencing.
He will appear at the Old Bailey on June 6.
