Saturday, April 20, 2024

 

N1.8bn Fraud: Court Delivers Judgement In Sterling Bank’s Case Sept 13

Must Read

Abuse Of Naira Notes: EFCC Arraigns Obi Cubana On 3 Counts Charge ……. Defendant pleaded not Guilty, Granted N10m Bail

Obi Cubana The Economic and Financial Crimes Commission, EFCC today arraigned a Lagos based socialite, Pascal Okechukwu popularly known as...

First Lady Launches Renewed Hope Initiative Programme For South West Women

L-R: Ogun State Deputy Governor, Engr. (Mrs.) Noimot Salako Oyedele; Lagos State First Lady, Dr. Ibijoke Sanwo-Olu; wife of...

Police Indictment: Businessman Asks Court To Compel AGF To Prosecute Oba Elegushi, Others Over Wilful Damages

A businessman Prince Toluwaleke Megba and a company, Lucky Megba Ojonla Nigeria Limited has instituted a legal action against...

 

An Ikeja Special Offences Court presided over by Justice Oluwatoyin Taiwo has adjourned judgement in the trial of two businessman, Ogbor Kehinde Eliot and Kelvin Christ till September 13,2022
The two defendants are currently facing trial before the court over alleged N1.8 billion fraud.
The court adjourned for judgement on Friday after the prosecution and the defence have adopted their final written addresses.

The Economic and Financial Crimes Commission (EFCC), on October 22, 2018, arraigned the two men on a five-count charge bordering on conspiracy, forgery and obtaining by false pretence to the tune of N1.8 billion.

They were charged alongside a company, Danium Energy Services Limited, which they were said to have used to fraudulently deceive Sterling Bank Plc into lending them money through a fraudulent scheme with the pretence to finance Local Purchase Order, LPO for 20,000 Metric Tonnes of Automotive Gas Oil for supply to Total Nigeria Limited.One of the counts read:

“That you, Ogbor Kehinde Eliot, Kelvin Ejere Chris and Danium Energy Services Ltd., sometime in February 2016 in Lagos within the Lagos Judicial Division, with intent to defraud, conspired amongst yourselves to obtain the sum of N1,820,496,000.00 (One Billion, Eight Hundred and Twenty Million, Four Hundred and Ninety-Six Thousand Naira) by false pretence from Sterling Bank Plc.”

Another count read: “That you, Ogbor Kehinde Eliot, Kelvin Ejere Chris and Danium Energy Services Ltd, on or about 23rd of February 2016 in Lagos, within the jurisdiction of this Honourable Court, with intent to defraud, induced Sterling Bank Plc to deliver to Danium Energy Services Ltd the total sum of N1,820,496,000.00 (One Billion, Eight Thousand and Twenty Million, Four Hundred and Ninety-Six Thousand Naira) under the false pretence that Total Nigeria Plc vide Purchase Orders (PO) with Reference No. OPS/SUP/02/16/330 and OPS/SUP/02/331 dated 3rd of February, 2016 contracted Danium Energy Services Ltd to supply 20,000 metric tons of Automotive Gas Oil (AGO) in two tranches of 10,000 metric tons each valued at the aggregate sum of N2,328,000,000.00 (Two Billion, Three Hundred and Twenty-Eight Million Naira) and you thereby committed an offence contrary to Section 1(b) of the Advance Fee Fraud and Other Fraud Related Offences Act 2006 and punishable under Section 1(3) of the same Act.”

They pleaded “not guilty” to the charges when they were arraigned.

However, at the proceeding on Friday, both the counsel for the first, second, and third defendants adopted their various final written addresses and unanimously prayed the court to discharge and acquit their respective clients as they urged the court to hold that the prosecution has not proven the case against them.

Adopting the prosecution’s final written address in response to the defence, the prosecuting counsel, Rotimi Oyedepo, urged the court to dismiss the arguments of the defence has lacking in merit and to convict them as charged.

“The case against the defendants before your lordship is such that it is visible to the blind and audible to the deaf,” he said.

Oyedepo further urged the court to take cognisance of the fact that the defendants created an impression that Total Nigeria Plc issued to the defendants local purchase order reference numbers 330 and 331 for the supply of AGO.

He said: “These two local purchase orders, gave the impression that Total Nigeria Plc contracted the third defendant to supply to it 10,000 metric tons per each of those LPOs for a particular sum.

“And so, the third defendant, armed with these LPOs, contracted Sterling Bank Plc to finance the purported documents emanating from Total.”

He further noted that the first defendant showed by the prosecution was the alter ego of the third defendant.

He further added in order to effectively perpetrate the alleged fraud the defendants further forged other documents to deceive the bank into facilitating the said LPOs.

He added that in the course of proving its case, the prosecution was able to show documents, in which Total Nigeria Plc refuted that the said LPOs emanated from it.

“The prosecution has shown to my lord the LPOs that were forged, and the original of the documents which Total said that the referenced documents in contention were not issued to the third defendant,” he said.

He therefore urged the court to hold that the prosecution effectively proved the case of conspiracy, forgery, and obtaining by false pretence.

After listening to all the parties, Justice Taiwo adjourned the matter till September 13, 2022, for judgement.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -
Latest News

Abuse Of Naira Notes: EFCC Arraigns Obi Cubana On 3 Counts Charge ……. Defendant pleaded not Guilty, Granted N10m Bail

Obi Cubana The Economic and Financial Crimes Commission, EFCC today arraigned a Lagos based socialite, Pascal Okechukwu popularly known as...

First Lady Launches Renewed Hope Initiative Programme For South West Women

L-R: Ogun State Deputy Governor, Engr. (Mrs.) Noimot Salako Oyedele; Lagos State First Lady, Dr. Ibijoke Sanwo-Olu; wife of former President Olusegun Obasanjo, Chief...

Police Indictment: Businessman Asks Court To Compel AGF To Prosecute Oba Elegushi, Others Over Wilful Damages

A businessman Prince Toluwaleke Megba and a company, Lucky Megba Ojonla Nigeria Limited has instituted a legal action against the Attorney General of the...

Abiodun Swears-in 20th HoS, Promises Better Civil Service

L-R: Immediate past Head of Service, Mr. Kolawole Peter Fagbohun; Deputy Governor, Engr. (Mrs.) Noimot Salako-Oyedele; Ogun State Governor, Prince Dapo Abiodun and the...

Court Adjourns Hearing Of Alleged 7bn Debt Against Swift Networks To May 10

Justice Daniel Osiagor of the Federal High Court sitting in Lagos has fixed May 10, 2024 for hearing of all pending applications, including possible...
- Advertisement -

More Articles Like This

- Advertisement -