Wednesday, 23 October 2013

EFCC Press Release : N15B Transcorp Fraud: EFCC Presents Three More Witnesses

The Economic and Financial Crime Commission, EFCC, on Wednesday, October 23, 2013, told a Federal High Court sitting in Abuja that three more witnesses will be presented in the trial of top executives of Transnational Corporation, TRANSCORP, Plc.
The officials who are being prosecuted before Justice S.C. Chukwu are Thomas Iseghohi, Group Managing Director, Muhammed Buba, Company Secretary and Mike Okoli, Deputy General Manager on a thirty two count charge of criminal conspiracy, criminal breach of trust, money laundering and misappropriation of public funds to the tune of Fifteen Billion Naira.
The trio were arraigned on Wednesday May 27, 2009. They were alleged to have between July 2007 and March 2009, while acting in their official capacities defrauded the corporation through issuance of sham contracts, payment of legal fees, consultancy fees, professional fees, adverts and public relations involving several billions of naira.
At the resume hearing, Sylvester Ogbelu, prosecution counsel, led Mr. Max Ogah, the third prosecution witness who testified before the court during cross examination, that he never have evidence of performance for those services that was paid for.
The answer was sequel to a question whether Ogah had any evidence of payment by Transcorp to communication companies for their services and whether it was inflated.
He further said “over my twenty years as a chartered accountant there are criteria and standard that is followed when billing, if it is necessary and reasonable for the benefit of the company. To me some of the expenses we paid were not part of that question; I never have evidence of performance for those services that were paid”.
When the EFCC counsel informed the court of his motion dated July 25, 2013, to present three more witnesses, J.N. Ogwunu, defense counsel to the second accused person objected to the motion as he argued that the prayers in the motion papers were not supported by the evidences in the application and ask the Court to reject the application.
Justice Chukwu granted the application but told the prosecution to avoid delay in the interest of justice. He, however, adjourned the case to November 11, 2011 for continuation of hearing.
 
 Wilson Uwujaren
Head, Media and Publicity
23rd October, 2013
 

1 comment:

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