EFCC Press Release
The Economic and Financial Crimes
Commission on May 12, 2015 arraigned one Uche Obodoekwe alongside his company
DE CANON Investment Limited before Justice M.B Idris of the Federal High Court
Lagos on an 8-count charge bordering on Money Laundering.
He allegedly used the property of
an insurance firm, Royal Exchange Assurance Plc as collateral to secure a N500,
000,000 (Five Hundred Million Naira Only) loan from the defunct First Inland
Bank, purportedly to purchase about two hundred million units of shares.
However, after taking the
facility, the accused neither used the money to buy shares nor service his
obligation to the bank.
Investigations revealed that N480m
of the said loan was placed on call deposit by Uche, which he eventually
converted to personal use.
Count one of the charge reads
“that you Mr Uche Obodoekwe and De canon Investment Limited between 22nd
January 2008 and 28th January
2008 in Lagos within the jurisdiction of this Honourable Court, converted an
aggregate sum of N458,500,000 (Four Hundred and Fifty Eight Million, Five
Hundred Thousand Naira Only) by placing same into call account with the First
Bank of Nigeria Plc, which sum formed part of the funds you derived from an
illegal act to wit: stealing by conversion of Royal Exchange Assurance Plc’s
funds entrusted in your care by the said Royal Exchange Assurance Plc and with
the aim of disguising the illicit origin of the said sum and you thereby
committed an offence punishable under Section 14(1)(a) of the Money Laundering
Prohibition Act, 2004.”
The accused pleaded not guilty
when the charge was read to him.
Justice Idris granted the accused
persons bail in the sum of N10, 000,000 and two sureties in like sum. The
sureties must provide affidavit of means while the accused passport is to be
deposited with the court registry.
The case was adjourned to June 17
and 18, 2015 for commencement of trial.
In a related development, the EFCC
has arraigned one Adekunle Olayemi before Justice Lawal Akapo of Lagos State
High Court, sitting in Ikeja on a 3-count charge bordering on possession of
false documents and obtaining money by false pretence. When the charges were read
to the defendant on May 12, 2015, he pleaded not guilty.
One of the counts read: “Adekunle Olayemi (a.k.a Timmy Mike and
‘Rachael Williams ) on or about the 7th day of May, 2014 at Lagos
within the Ikeja Judicial Division had in your possession a document in which
you represented yourself to one Mr. Orest as Timmy Mike and demanded for the
sum of $5, 800 (Five Thousand, Eight Hundred Dollars) so that you could help
his lover from being prosecuted, which representations you knew or ought to
have known to be false having regard to the circumstances of this case”.
The prosecution counsel, Mustafa Aliyu asked the court to fix a date
for trial in view of the defendant’s plea of not guilty. However, the defense counsel,
Akin Bayidada pleaded with the court to grant his client bail on liberal term
as the offence was bailable.
Justice Lawal-Akapo adjourned the case to 17th of June,
2015 and ordered that the defendant be remanded in Kirikiri maximum
prison.
Also, the EFCC arraigned one Adebanjo Olamilekan( a.k.a Candice
Gloria) before Justice Lawal Akapo on a two count charge for obtaining money by
false pretence. The accused is alleged to have defrauded one Collins, an American, of $2,500.
The accused pleaded not guilty to the charge.
Justice Akapo adjourned the case to June 10, 2015 for hearing.
Similarly, one Owolabi Lateef ( a.k.a Timmy) was arraigned before
Justice Lawal-Akapo on a two count
charge of forgery and being in possession of a false document. The defendant
was allegedly found with a letter of conviction purportedly from the National Drug
Law Enforcement Agency, in which one Miss Gloria convicted for drug
trafficking, would serve eight years
jail terms or pay a ransom of 8,800 United States Dollars to procure an acquittal.
The defendant pleaded not guilty to the charge.
The case was adjourned to June 10, 2015 for hearing of the bail
application.
Wilson Uwujaren
Head, Media & Publicity
15th May, 2015
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