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N3bn fraud: Court adjourns Elixir arraignment to October 9

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By Philemon Adedeji

The absence of the counsel to Elixir Asset Management Limited, Elixir Investment Partners Limited along with two of their Directors Clara-Bittinger Mshelia-Whyte and Sarah Ogbemudia has stalled the arraignment of the accused persons.

The case was subsequently adjourned to October 9th, 2023 for arraignment.

They had been dragged before the Federal High Court sitting in Ikoyi, Lagos on allegations of fraud to the tune of over N3billion.

When the matter came up before Justice Yelim Bogoro of Court 5, the court was informed that the counsel to the defendants was unavoidably absent due to Ill health.

The Presiding Judge, apparently displeased that the counsel to the accused did not formally inform the court of his ill health described his actions as discourteous to the court and subsequently adjourned the case to October 9,2023 for arraignment.

Bogoro said, “That is not a very good presentation that the counsel will not reach out to the court. Their counsel is supposed to be here to defend them. He cannot stay in Abuja and claim he has stomach upset. The defence has not written to court that he is ill which is doscoutous to court . I will adjourn this matter till 9th October and he should ensure that he is in court on that date”.

During the last adjourned date, the defendant, Mshelia-Whyte and Ogbemudia failed to honor the court invitation, which made Justice  Bogoro to grant the wish of the counsel from the office of the Attorney General Moshood Adeyemi, to issue the defendants criminal sermon and set a date for the next appearance for July 11, 2023.

In a four count charge brought against the companies and their promoters by the Federal Republic of Nigeria, they are accused of offering for subscription an unregistered product ‘Elixir Treasury Product’ valued at over N3b to the investing public including Toyota Nigeria Ltd, Kaduna Industrial and Finance Company and others.

According to the charge, the defendants are alleged to have committed a felony to wit: with the common intent conspired among themselves together with Samuel Aikhonbare, Christopher Edordu and their other staff to do an illegal act by luring the investing public including Toyota Nigeria Limited and others by offering them an unregistered product called ‘Elixir Treasury Product’ and thereby committed an offence contrary to and punishable under Section 516 of Criminal Code Act Laws of the Federation of Nigeria, 2004.

The defendants are also alleged to have conspired among themselves to do an illegal Act- diversion of Investment funds belonging to the investing public including Toyota Nigeria Limited, Kaduna Industrial and Finance Company and others and thereby committed an offence contrary to and punishable under Section 516 of Criminal Code Act Laws of the Federation of Nigeria, 2004.

“That you Elixir Investment Partners Ltd and Clara-Bittinger Mshelia-Whyte both of No. 95 Medical Guild Close, V/I Lagos on or between the year 2019 and 2021 within the jurisdiction of this honourable court did commit a felony to wit: diversion of investment funds to the tune of N3,213,700,150 belonging to the investing public including Toyota Nigeria Limited, Kaduna Industrial and Finance Company and others. You thereby committed an offence contrary to and punishable under section 383 (2) (f) of Criminal Code Act, Laws of the Federation of Nigeria, 2004 and punishable under Section 390 (7) of the same Act,” the Charge stated.

Crime

EFCC arraigns Kwara ex-finance commissioner for N1.22bn fraud

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By Adeyanju Esther

The Ilorin Zonal Command of the Economic and Financial Crimes Commission, (EFCC), on Monday arraigned a former Commissioner for Finance in the state, Ademola Banu, before Justice Evelyn Anyadike of the Federal High Court in Ilorin for corruption allegations.

Banu is facing charges of alleged money laundering and misappropriation of state funds totaling N1.22 billion during his tenure as commissioner for finance under the administration of Governor Abdulfatah Ahmed, between May 2011 and May 2019.

The former commissioner was absent during his initial arraignment on February 23, prompting the court to issue a bench warrant against him. However, on the recent court date, both Banu and Governor Abdulfatah Ahmed were present.

During the court proceedings, Banu pleaded not guilty to the charges levelled against him. His legal counsel, Gboyega Oyewole, SAN, moved a motion for bail, citing Banu’s medical condition. The court granted him bail in the sum of N20 million with two sureties in like sum, who must possess landed property within the court’s jurisdiction. Additionally, Banu was required to deposit N5million as a bond into the litigation account of the Federal High Court.

Furthermore, the judge ordered Banu to surrender his international passport to the court and remain in the custody of the EFCC pending the fulfillment of his bail conditions.

The case has been adjourned to June 25 and 26, for trial, signifying a significant step forward in the fight against corruption in Kwara State.

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Crime

Kaduna: Four Shiite members killed in confrontation with Police

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In a tragic turn of events, a clash between members of the proscribed Islamic Movement of Nigeria, also known as Shiites, and the police in Kaduna State has resulted in the loss of lives and injuries.

The confrontation occurred as Shiite members gathered to observe the International Quds Day, a significant event in their calendar.

According to reports, tensions escalated when the police attempted to disperse the Shiite procession near the Katsina roundabout along Ahmadu Bello Way. The attempt to control the situation led to shots being fired, causing chaos and unrest among citizens and businesses in the area.

Professor Dauda Nalado, a member of the Islamic Movement, confirmed the death of at least four Shiite members and an unspecified number of injuries. He alleged that the police opened fire on the peaceful procession, triggering the violent clash.

The International Quds Day, established by the late global Islamic leader Imam Ruhullah Al-Musawi Al-Khomeini, aims to show solidarity with the oppressed people of Palestine and condemn the actions of the Israeli government. The Shiite community, under the leadership of Ibraheem Ya’qoub El-Zakzaky, has been observing this day for decades in Nigeria.

This incident reignites tensions surrounding the Shiite movement’s support for the Palestinian cause, which has previously led to clashes and the infamous Zaria massacre in 2015.

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Crime

EFCC apprehends 13 alleged internet fraudsters in Abuja raid

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By Adeyanju Esther

In a concerted effort to combat cybercrime, the Economic and Financial Crimes Commission (EFCC), Abuja Zonal Command, has made significant strides with the arrest of 13 individuals suspected of engaging in internet fraud.

The arrests took place in the Kubwa area of Abuja following actionable intelligence received by EFCC operatives.

According to reports, the suspects, consisting of 12 males and one female, were apprehended as part of ongoing efforts to clamp down on cybercriminal activities in the region.

The operation, which was meticulously planned and executed, targeted individuals believed to be involved in various forms of online-related crimes. During the raid, authorities seized a cache of electronic devices, including 12 phones and laptops, which are suspected to have been used in perpetrating fraudulent schemes.

 The recovery of these items serves as crucial evidence in the investigation process, shedding light on the extent of the suspects alleged involvement in internet fraud.

Speaking on the operation, a spokesperson for the EFCC emphasised the agency’s commitment to tackling cybercrime and safeguarding the integrity of Nigeria’s digital space.

The spokesperson reiterated the EFCC’s resolve to leave no stone unturned in its pursuit of justice and accountability for those involved in online-related offences. As investigations into the matter continue, the EFCC has announced its intention to charge the suspects to court upon the conclusion of inquiry.

This development underscores the agency’s proactive stance in combating cybercrime and sending a strong message to potential offenders that such illicit activities will not be tolerated.The EFCC has urged members of the public to remain vigilant and report any suspicious online activities to the appropriate authorities.

 By working together with law enforcement agencies, the public can play a pivotal role in curbing cybercrime and ensuring a safer digital environment for all.

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