Directors in court for N140m fraud

The Economic and Financial Crimes Commission has arraigned one Ahmed Mohammed and his accomplice, Nuhu Ishaq before Justice Ibrahim Auta of the Niger State High Court, Minna for N140m fraud.

The duo was arraigned on six counts bordering on conspiracy, forgery and obtaining by false pretences.

The EFCC spokesman, Wilson Uwujaren, said the suspects paraded themselves as directors of Sandabe International Company Limited and fraudulently obtained the N140m from one Mohammed Bago.

The anti-graft agency explained that the money was supposed to be an investment by Bago into SIC, adding that as soon as the money was received, the suspects reneged on the agreement.

The charges read in part, “That you, Ahmed Mohammed, and Nuhu Ishaq, sometime between March 1 and April 1, 2010, in the Minna Judicial Division, with intent to defraud, obtained N140m from one Mohammed Bago under the false pretence that you own a company known as Sandabe International Company Limited, which has a partnership agreement with MTN to deal in MTN products and that you will invest the said amount into the company’s MTN business on his behalf and to be giving him an interest of six per cent of the capital invested every month, which you knew to be false , and thereby committed an offence contrary to Section 1 (1)(a) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006 and punishable under Section 1(3) of the same Act.”

The defendants pleaded not guilty to the charges, prompting the EFCC counsel, Ibrahim Audu, to plead for a date for trial to commence. He also urged the court to remand the accused in prison.

However, defence counsel, Aisha Shehu, prayed the court to admit her clients to bail, saying the offence for which they were being prosecuted was bailable.

Auta asked the defence to make a formal application and ordered the accused persons to be remanded in prison.

He adjourned the case till June 19, 2014 for hearing on the bail application.

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