Police Arraign Insurance Firm’s MD Over Alleged N20m Fraud
A Managing Director of an insurance company, Mr. John Ethagbe, was today, arraigned before a Lagos Federal High Court, over alleged N20 million fraud.
The defendant was arraigned on a two count-charge of alleged conspiracy to commit fraud and obtaining the sum of N20 million by false pretence, before the court presided over by Justice Yelim Bogoro, by the men of the Police Special Fraud Unit (PSFU), Ikoyi, Lagos.
The prosecutor, Mr. Henry Obiaze informed the court that the defendant alongside Jerome Itepu (now at large) and a company, Omo Jay Limited, committed the offences sometimes in December 2012, in Lagos State.
He told the court that the defendant allegedly obtained the said sum from one Felix Ogbe, with the pretence that the money is for execution of contract awarded to them by Federal Government of Nigeria.
He told the court that the offences allegedly committed by the defendant, contravened sections 8(a) and 1(1)(a) of Advance Fee Fraud and Related offences Act 2006, and punishable under Section 1(3) of the Advance Fee Fraud and other Related Offences Act Laws of Federation of Nigeria 2006.
However, the defendant have denied the allegations and pleaded not guilty to the charges.
Following his not guilty plea, the prosecutor urged the court to remand him in the prison custody, while also asked for trial date.
But the lawyer to the defendant, Sylvanus Ogwemoh (SAN), while moving the defendant’s bail application, told the court that the matter that led to the charges was purely a civil contract between parties.
He told the court that his client only introduced parties to each other. Adding that no money was received by his client.
He also told the court that the cheques issued in the course of the contract were not issued on his client’s name.
He pleaded with the court to grant his client bail on self-recognisance, while also promised to produce the defendant on the trial date, if court released the defendant to him.
Responding to the defendant counsel’s request, the prosecutor urged the court to refuse granting bail on self-recognisance.
Justice Bogoro has adjourned the matter till March 21, for her ruling on the bail application. The judge however released the defendant to his lawyer, with an order to produce him at the next adjourned date.
Charges against the defendant read: “that you John Ethagbe ‘m’ and two others namely Jerome Itepu ‘m’ and Omo Jay Ltd now at large, sometimes in December, 2012 at Lagos within the jurisdiction of the Federal High Court with intent to defraud, conspired to commit felony to wit obtaining the sum of N20, 000, 000. 00 “Twenty Million Naira” under false pretence and there committed an offence contrary to Section 8(a) of Advance Fee Fraud and Related offences Act 2006 and punishable under Section 1(3) of the Advance Fee Fraud and other Related Offences Act Laws of Federation of Nigeria 2006.
“That you John Ethagbe ‘m’ and two others namely Jerome Itepu ‘m’ and Omo Jay Ltd now at large sometimes in December, 2012 at Lagos within the jurisdiction of the Federal High Court did by false pretence and with intent to defraud, did obtain the sum of N20,000,000.00 “Twenty Million Naira” from Felix Ogbe ‘m’ with the pretence that the money is for execution of contract awarded to you by Federal Government of Nigeria, a representation you knew was false and there committed an offence contrary to Section 1(1) (a) of Advance Fee Fraud and Related Offences Act 2006 and punishable under Section 1(3) of the Advance Fee Fraud and other Related Offences Act Laws of Federation of Nigeria 2006.”
