Man arraigned for alleged N46m fraud •Auto firm pleads guilty to money laundering

Posted by News Express | 15 October 2019 | 789 times

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•Alleged money launderer Ola Lawal

The Economic and Financial Crimes Commission (EFCC) Lagos office, Monday, October 14, 2019, arraigned certain Ola Lawal alongside his firm, DCAN Oil and Gas Limited, before Justice Chuka Austine Obiozor of the Federal High Court, Ikoyi, on a two-count charge  bordering on money laundering and stealing to the tune of N46 million

It is an offence contrary to Section 15(2)(b) of the Money Laundering (Prohibition) Act, 2011 as amended and punishable under Section 15(3) of the same Act.

The defendant pleaded not guilty when the charges were read to him.

One of the charges reads: “That you Ola Lawal (a.k.a Lawal Roland) and DCAN Oil and Gas Limited on or about 24th June, 2019, in Lagos within the Jurisdiction of this Honourable Court fraudulently transferred the sum of N46,000,000.00 (Forty-Six Million Naira) from Flour Mills of Nigeria Plc Account Number 1002792889 domiciled in United Bank for Africa Plc to DCAN Oil and Gas Limited Account Number 0036695765 domiciled in Union Bank Plc which you ought to have known that such fund forms part of the proceeds of an unlawful act.”

Consequent upon the plea of the defendant, prosecution counsel, Muhammad Hussain asked the court for a trial date and order the remand of the defendant in Correctional Service custody.

The defence counsel, Godwin Dick, informed the court of a bail application already before the court and which has been served on the prosecution.

Justice Obiozor adjourned the case to October 15, 2019, for hearing of bail application and commencement of trial.

The court also ordered that the defendant be remanded in the EFCC custody.

In another development, a Kano-based auto firm, Samari Motors, which was arraigned yesterday by EFCC before Justice O.A Egwuatu of the Federal High Court, Kano, pleaded guilty to the one-count charge of money laundering preferred against it.

Trouble began for the company sequel to intelligence that its activities were in violation of the provisions of the Money Laundering (Prohibition) Act, 2011, having failed to file report to the Special Control Unit Against Money Laundering (SCUML) on the sale of cars as required by law.

The charge against the defendant reads: “That you Samari Motors Nigeria Limited, sometime in November 2017, in Kano within the jurisdiction of the Federal High Court, being a Designated Non-Financial Institution, failed to comply with the requirements of customer identification and the submission of returns on the sale of a car to Ibrahim Sani at the sum of N5,700,000, (Five Million, Seven Hundred Thousand Naira) only depicted on your invoice number 0665 as specified under the Money Laundering (Prohibition) Act, 2011 (as amended) within seven days from the date of the transaction, and you thereby committed an offense contrary to Section 5(6) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 5 (6)(a) of the same Act.”

The defendant pleaded guilty through its director, who stood in the dock in the place of his company.

In view of the guilty plea, prosecution counsel, Jonson Ojogbane, asked the court for a short adjournment to enable the parties review the facts of the case.

Defence counsel, Jazuli Mustafa did not object and consequently, the Justice Egwuatu adjourned the matter till November 5, 2019.

 


Source: News Express

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