Three remanded for alleged N17.8m fraud

A FEDERAL High Court in Lagos on Thursday remanded three men, Alhaji Kabiru Ali, Yusuf Bello and David Boniface, charged with N17,850,00 fraud.

Justice Nicholas Oweibo made the order following their arraignment on a three-count charge of stealing and money laundering.

The defendants were arrested by the Economic and Financial Crimes Commission, EFCC, following a petition received by the Commission on May 13, 2019 from the complainant, Ali Isa.

ALSO READ: Alleged N6.9bn fraud: Fayose still being investigated, says EFCC

One of the counts reads: “That you, Alhaji Kabiru Ali, Yusuf Bello, David Boniface and Abdul Isa, a.k.a. Harrison (still at large), sometime in May, 2019 in Nigeria, conspired to indirectly conceal the sum of N17,850,000 (Seventeen Million, Eight Hundred and Fifty Thousand Naira) in the Guarantee Trust Bank account of Baalina Nigeria Limited, which sum you ought to have known forms part of proceeds of unlawful act to wit: stealing.

“You thereby committed an offence contrary to Section 18 (a).15 (2) (a) of the Money Laundering Prohibited Act, 2011 as amended and punishable under section 15 (3) of the same Act.”

The defendants pleaded not guilty.

Prosecution counsel, A. O. Mohammed, asked the court for a trial date and also prayed that the defendants be remanded in prison custody pending the hearing and determination of the case.

Justice Oweibo remanded the men in Ikoyi prison custody and adjourned till November 5, 2019 for hearing of their bail application and commencement of trial.