By Imisioluwa Afunmiso
Operatives of the Economic and Financial Crimes Commission (EFCC) have commenced investigations into the Managing Director of Paramount Energy Limited, Ralph Chinazum Ajah, over an alleged N72.3 million fraud in Enugu.
The anti-graft agency disclosed that the suspect is being investigated for alleged offences bordering on obtaining by false pretence and stealing, with the case being handled by operatives of the Commission’s Enugu Zonal Directorate.
According to a petition received by the Commission, the complainant alleged that the sum of N72,300,000 was paid to Ajah for the supply of petroleum products to some of his business outlets, with the payments, made in 6 tranches between April 11 and May 24, 2022, were reportedly not honoured.
The petitioner claimed that despite repeated assurances from the suspect to deliver the products which he failed to do, prompted further checks, which allegedly revealed that both the suspect and his company lacked the capacity to execute the contract.
Preliminary investigations by the Commission further indicated that the funds were paid into the account of Paramount Energy Limited before being transferred into the suspect’s personal account and allegedly diverted for private use.
The EFCC stated that investigations are ongoing, adding that the suspect will be charged in court upon conclusion of the probe.