Man Bags 2 Years Jail Term for N36m Loan Scam
The convict who was arraigned by the Economic and Financial
Crimes Commission on Thursday, February 6, 2014 alongside three staff
of First Bank -Mukhtar Ali Tofa, Yusuf Tafida and Aminu A. Magashi - on a
three count charge that borders on financial malpractices and obtaining
by false pretence, pleaded guilty to one of the counts. He was
consequently convicted by Justice Fatu Riman.
The charge reads, “that
you Ibrahim Sale Nagero and Ibrahim Sale Nagero Transport Nigeria
Limited sometime in February 2009 in Kano within the jurisdiction of the
Federal High Court Kano while being customers of First Bank Plc
willfully filled Form 3240 (guaranty by an Individual) of First Bank of
Nigeria Plc in the name of Alhaji Sale Ali Nagero knowing it to be false
so as to avoid the repayment of the lease finance facility of the sum
of N36, 000, 000 (Thirty Six Million Naira Only) and thereby committed
an offence contrary to section 15(2)(a) of the Failed Banks (Recovery of
Debts) and Financial Malpractices in Banks Act Cap F2 Laws of the
Federation of Nigeria, 2004 and punishable under section 16(1)(c) of the
same Act”.
The three other accused persons who allegedly granted the
convict a credit facility in the sum of N36, 000, 000 (Thirty Six
Million Naira ) without verifying the authenticity of the bank guarantee
purportedly signed by his father, pleaded not guilty to count three,
which is the only charge that affects them.
The count reads, “that
you Mukhtar Ali Tofa, Yusuf Tafida and Aminu A. Magashi between January
and February 2009 in Kano within the jurisdiction of the Federal High
Court while being officers of First Bank of Nigeria Plc negligently
processed a lease finance facility of the sum of N36, 000, 000 (Thirty
Six Million Naira Only) in favour of Ibrahim Sale Nagero Transport
Limited with a defective security and thereby committed an offence
contrary to section 15(2)(a) of the Failed Banks (Recovery of Debts) and
Financial Malpractices in Banks Act Cap F2 Laws of the Federation of
Nigeria, 2004 and punishable under section 16(1)(a) of the same Act”.
Justice
Riman admitted the three accused persons to bail in the sum of N5, 000,
000 (Five Million Naira) each and one surety in like sum. The surety
should be a public servant of not less than level 12 or a senior bank
official.
Further hearing in the matter was adjourned to March 6 and 7, 2014.
Media & Publicity
7th February, 2014
The Economic and Financial Crimes Commission, EFCC, on October 14, 2013, arraigned one Lebanese, Shahimi Talal, before Justice Alaba Ajileye of the High Court of Kogi State, Lokoja Judicial Division, on a two count charge bordering on obtaining money under false pretence and issuance of dud cheque.
Two Lebanese Convicted Over $2.07m Bulk Cash Smuggling
He had approached the court, seeking an order to enforce his fundamental human right by way of preventing the EFCC, agents or security agencies of government from harassing, arresting or detaining him, further to the charge filed by the EFCC at the Lagos High Court.
Money Laundering: Again, Babalakin Fails to Stop EFCC
Justice Lateefa Okunnu of a Lagos High Court sitting in Ikeja on Tuesday, October 8, 2013, told a former managing director of Finbank Plc (now First City Monument Bank), Mr Okey Nwosu, and three former Directors of the bank: Dayo Famoroti, Danjuma Ocholi and Agnes Ebubedike, who are being prosecuted by the Economic and Financial Crimes Commission, EFCC, for a N19.2 billion scam, that they have a case to answer and should be prepared to open their defense.
According to Justice Okunnu, "when there is some evidence that linked the defendants together, trial ought to be allowed to continue. What we have to consider is, has enough been said? I find that the prosecution has proved that a prime facie case has been established".
The judge also said that: "I found out that the prosecution has evidence that the sum of N19.2 billion was funnelled through various channels. It was proved by the prosecution that depositors money were used by the defendants to purchase shares without the consent of the board of directors and seven companies were used to siphon money out of the bank and that customers fund was put to use fraudulently".
Also, Justice Okunnu ruled that, 'the issue of no case submission cannot be held, I see further, that evidential proof has now been shifted to the defendants, therefore, all the four applications of no case submission before the court have failed and are therefore dismissed".
In his arguments for a no- case submission, counsel to the first defendant, Anthony Idigbe SAN, had told the court that his client only made a risky business judgment. "They traded in a stock business and that is the same risk that the directors of Finbank Plc (Now First City Monument Bank) took, they invested in shares, my lord, it was a business so that the bank can make money, it was a business risk taken by the managers. The allegation was that they did not involve the Central Bank of Nigeria (CBN). My lord, we urge the court to graciously discharge and acquit the first defendant", he said. Counsels to the 2nd, 3rd and 4th defendants also aligned their submissions with Idigbe's. They urged the court to discharge and acquit their clients.
Counsel to EFCC, Rotimi Jacob, SAN however, prayed the court to discountenance all the submissions of the defence counsel. "My Lord, we relied on Section 239, 240 of the Administration of Criminal Justice Law. And the question is whether there is a ground to proceed, and we have stated in our written submission that there is a great ground to proceed. Prime facie has been made out against the defendants and we urge your lordship to throw out the application of the defendants", he said.
It would be recalled that Okey Nwosu was arraigned alongside Dayo Famoroti, Danjuma Ocholi, Agnes Ebubedike, on a 26-count charge bordering on alleged stealing and illegal conversion of N19. 2 billion belonging to the bank.
Justice Okunnu adjourned the case to December 16th; 17th; 18th, 19th and 20th, 2013 for continuation of trial.
Media & Publicity
8th October, 2013
A High Court of the Federal Capital Territory, presided by Justice Sadiq Abubakar Umar on Tuesday October 8, 2013 sentenced one Joseph Morah to 10 years imprisonment without the option of fine for obtaining the sum of N36,000,00.00 (Thirty Six Million Naira) from Awalu Abdulrahman, a Bureau de Change operator by false pretence in 2006.
The convict was first arraigned on November 1, 2006 and re-arraigned in 2011 on an amended three count charge of obtaining money under false pretence. He was docked alongside three others namely, John Obialu, who was discharged and acquitted, Sani Musa and Elvis Ezeani both of whom are at large.
Working with his accomplices, he was alleged to have convinced his victim to part with the said sum under the pretext that they were going to transfer the Naira equivalent to him.
Not suspecting foul play, Abdurrahman convinced his brother Alhaji Nurudeen who resides in Ghana on the genuineness of the transaction and eventually paid the sum of N36 million to the convict.
Trouble started when the person Nurudeen sent to accompany Morah and his co-accused to collect the Naira equivalent was pushed out of the car.
Three of the five accused,John obiamalu, Joseph Morah, and Elvis Ezeani were eventually arrested but Ezeani later jumped bail.
According to prosecution counsel, Maryam Aminu Ahmed, five witnesses were called in the course of trial.
A petition by a concerned group alerted the Commission about the activities of Olusegun and his co-travelers at the elite 1004 Housing Estate where the fraudsters engaged in fraudulent activities of obtaining money by false pretences and forgery.
A search conducted by EFCC operatives at Olusegun' s apartment led to the recovery of several items such as laptops, iPad phones, travelling documents, cheque books, flash drives, internet modem, and three exotic cars - a Mercedes Benz Jeep, One 4Matic Mercedes Benz Car and a Range Rover Sport SUV. When asked how he came about the cars, Olusegun said the cars belonged to his sister who he claimed lives in the United Kingdom.
Operatives of the EFCC also downloaded over 80 implicating documents from the laptops recovered from Olusegun. However, the Commission is making effort to track down other members of Olusegun's syndicate who are currently at large.
Tunde Wasiu Sodiq, another undergraduate and member of another syndicate with close affinity to Olusegun's gang was also nabbed by operatives of the EFCC at the Housing Estate. Besides Sodiq, six other members of the syndicate were equally arrested. They are: Badmus Akeem O, Ajijola Oluwatosin Emmanuel, Adebesin Olalekan, Raji Resaq O, Ajibola Adeniyi and Adeboye Lamidi.
Their arrest was sequel to a petition on their notorious activities at the Housing Estate. Sodiq (23) hails from Lagos and claimed to be an undergraduate of Brandry University, Malaysia. The leader of the syndicate, Badmus Akeem, hails from Ayetoro, Ogun State and attended Oniwaya High School, Agege. He claimed to be a traveler who does odd jobs wherever he travels. "I decided to move to Malaysia to further my education while I do "Hot jobs" as well. I just got back a week ago before the festive period and also produce music and manage artistes," he claimed. On why he chose to live at the expensive 1004 estate where he and his friends pay N30, 000 daily, he said it was to avoid the stress that friends and relations could bring to him. "I didn't stay on the Mainland in Lagos because of stress of friends when you just get back from abroad."
Sodiq said that the Range Rover Sport car which was recovered from them belonged to his mother despite the fact that the car bears his alias, "T.Wizzle" .He stated in his statement that the mother decided to customize the car plate number after the name of his first son.
Other items recovered by the Commission include laptops, flash drives, internet modem, cheque books and a host of others.
They are to be arraigned in court soon.
EFCC Nabs Another Cash Courier With $130,000
Operatives of the Economic and Financial Crimes Commission, EFCC, on Wednesday, December 19, 2012, arrested one Bashir Abdu at the Mallam Aminu Kano International Airport, Kano over money laundering.
Abdu, a Nigerian but with a Dubai resident permit was on his way to Dubai on board Egypt Air when he was arrested by the EFCC for failing to declare the $130,000 (One Hundred and Thirty Thousand dollars) on him. He only declared the gold bars with him and 30, 000 Saudi Riyals.
Army Seeks Collaboration With EFCC
