EFCC arraigns businessman over alleged N4.5m fraud

Next Story

Ronaldinho claims he never lacked competitiveness

According to reports, the Economic and Financial Crimes Commission (EFCC) yesterday arraigned one Ikechukwu Onyia Henry, a businessman, before an Enugu State High Court on a four-count charge bordering on obtaining money by false pretences and issuance of dud cheques to the tune of N4,500.000.

EFCC

The offence os contrary to section 1(2)(b) of the Dishonored Cheques (offences)Act, Cap D11, Laws of the Federation, 2004 and punishable under section 1(1)(b)(i) of the same Act.

A statement from the South-east Zonal office of the commission, disclosed that it was alleged in a petition to the commission that the suspect, a former staff of EMEL Group of Companies, Lagos and a self-styled importer of baby diapers in January 2015, approached the petitioner for a loan of N3,000,000 to increase importation of his stocks with an agreement to pay an interest of N1, 500.000.00 in return for the capital sum.

Investigation however revealed that the transaction was fraudulently entered into by the accused solely to use the loan obtained to offset debts incurred from his former office which led to his dismissal. It was also discovered that his company Alteal Enterprises was non functional and without any presence in the registered address.

READ Archive:   Boko Haram: Over 50 Killed, Many Injured As Terrorists Attack Market In Borno

Eze having failed to pay back the capital and interest sum of the loan went ahead at various times, to issue six postdated cheques to the complainant which when presented, returned unpaid due to insufficient amount in the account. Further investigation revealed his dishonest intention when his claim to have written the bank to stop honouring of the cheques was rebutted by the bank.

When called to the dock, the accused pleaded not guilty to the four counts charge preferred against him necessitating the prosecuting counsel Muhammad Shehu, to apply for a trial date.

READ Archive:   NDLEA arrests 13 drug traffickers in displaced persons’ camp

3 thoughts on “EFCC arraigns businessman over alleged N4.5m fraud

Leave a Reply

Your email address will not be published. Required fields are marked *