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Chinese national in N108 million fraud

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7 years ago

March 29, 2018

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A Chinese national, Li Yanping, has been arraigned before Justice Babatunde Quadri of a Federal High Court, Abuja for allegedly concealing the sum of $300,000 (N108m) while attempting to board a flight to Dubai.

Yanping was arraigned by the Economic and Financial Crimes Commission (EFCC).

The EFCC said in a statement that Yanping failed to inform the officers of the Nigerian Customs Service as required by Section 2 (3) of the Money Laundering (Prohibition) Act, 2011 (as amended by Act No. 1 of 2012).

The accused person was arrested by the Presidential Task Force on Trans-Border Cash Movement on March 15, 2018, for failure to disclose the said sum while attempting to board an Emirate flight, EK 8786 en route Dubai and handed over to the EFCC for further investigation and possible prosecution.

The charge reads, “That you, Li Yanping, on or about the 15th day of March, 2018 at Nnamdi Azikwe International Airport, Abuja, within the jurisdiction of the Federal High Court, had in your possession cash in the sum of $300,000 during your outbound clearance for travel to Dubai and failed to declare the said sum of $300,000 to the officers and men of the Nigerian Customs Service as required under the provision of Section 2 (3) of the money laundering (Prohibition) Act, 2011 ( as amended by Act No. 1 of 2012) and thereby committed an offence punishable under Section 2(5) of the Money Laundering (Prohibition) Act, 2011 ( as amended by Act No. 1 of 2012).”

The defendant pleaded not guilty to the charge.

Following his plea, counsel for the EFCC, Ene Emonye, asked the court to fix a date for trial and to remand the defendant in EFCC custody pending trial.

On the other hand, Yanping’s counsel, Chinedu Eze, told the court that he had a pending bail application praying the court to admit the defendant to bail.

While moving the application brought under Section 35(1) & (4) and 36 (5) and (6) of the 1999 constitution and Section 158, 162, 163 & 165 of the Administration of Criminal Justice Act, 2015, Eze urged the court to exercise its discretion in favour of his client by releasing him on bail pending trial.

However, Justice Quadri granted the accused person bail in the sum of N10 million with two sureties in like sum.

The sureties must not be below salary GL12 in any of the federal ministries or parastatals and must have traceable addresses. The sureties must comply with a bail bond accompanied with their international passport.

“The defendant is to be remanded in the custody of the EFCC until the perfection of his bail conditions,” the judge added.

The case has been adjourned till April 17, 2018 for hearing.