Senator Musiliu Obanikoro, Gbolahan, and four other defendants are scheduled to be arraigned on February 27 by a Federal High Court in Lagos on charges of conspiracy, collecting money by deception, and fraud totaling N1, 356, 057, 330.43 billion. Adejare Adegbenro, 51, and Obanikoro will be arraigned together at Balmoral International Limited.CONTINUE FULL READING>>>>>
In front of Justice Ambrose Lewis-Allagoa were M. O. B. Integrated Limited and DDSS International Company Limited. Due to the defendants’ inability to appear in court for their arraignment on Friday, the judge set the date for Friday.
Through the police Special Fraud Unit (PSFU) office in Ikoyi, Lagos, the Inspector General of Police accused all of the defendants of obtaining N1, 356, 057, 330.43 billion from Access Bank Plc, formerly Diamond Bank, between May and September 2013 with the intent to defraud by falsely claiming through bank officers and employees that they were involved in the business of importing cars from Dubai for sale in Nigeria and that the money was used to finance the importation of a set of brand-new cars from Dubai to replenish their business and sell to their various clients.
Additionally, it was claimed that they intentionally or reasonably should have known that N1, 356, 057, 330.43 billion, which belonged to Access Bank Plc (formerly Diamond Bank), was part of the proceeds and that they had converted, transferred, retained, or taken possession of it, either directly or indirectly. The defendants were also accused of illegally converting N1 billion that belonged to Access Bank, formerly known as Diamond Bank Plc, for their own personal benefit.
The prosecutor, M. Y. Bello, told the court during the matter’s reopened hearing on Friday that all of the accused would be arraigned. However, he requested a new date from the court so that all of the defendants could appear and enter pleas to the allegations against them.
Joshua A., the defendants’ attorney, informed the judge that his clients are out of the country. Furthermore, the charge sheet was only distributed to the businesses listed in the charge. Nonetheless, he gave the court his word that all of the defendants will appear in court to enter their pleas to the charges at the next postponed date. After hearing arguments from the attorneys, Justice Lewis-Allagoa postponed the case to February 27 in order to arraign all defendants.
“That between May and September 2013 in Lagos, within the jurisdiction of the Lagos Judicial Division of the Federal High Court, you Adejare Adegbenro’m’, Gbolahan Obanikoro’m’, Balmoral International Limited, M. O. B. Integrated Limited, DDSS International Company Ltd, and other Directors of the Companies (now at large) conspired to commit a felony with intent to defraud, namely: obtaining money by false pretense, and thereby committed an offense against Section 8(i)(a) and punished under Section 1(3) of the Advance Fee Fraud and other Fraud Related Offences Act, No. 14 of 2006.
“That between May and September 2013, in Lagos, within the aforementioned judicial division of the Federal High Court, you Adejare Adegbenro’m’, Gbolahan Obanikoro’m’, Balmoral International Limited, M.O.B. integrated Limited, DDSS International Company Ltd, and other Directors of the Companies (now at large) with intent to defraud the total sum of N1, 356, 057, 330. 43 (One Billion, Three and Fifty Six Million, Fifty Seven Thousand, Three Hundred Thirty Naira, Forty Three Kobo) from Diamond Bank now Access Bank Pic by falsely presenting through its employees and officers of the bank
Balmoral International Limited and M. O. B Integrated Limited were involved in the importation of cars from Dubai for sale in Nigeria. They claimed that the money was used to finance the purchase of a set of brand-new cars from Dubai to replenish your business and sell to your various customers. Based on this claim, the Bank released the money to you as a loan facility for the importation and sale of the cars, a claim you made carelessly and that you knew to be untrue. As a result, you diverted the satd funds.
Section 1(I)(a) of the Advance Fee Fraud and Other Fraud Related Offenses Act No. 14 of 2006 was violated in relation to your own personal use and benefits, and you were punished under Section 1(3) of the Saine Act.
“That between May and September 2013, in Lagos State, in the aforementioned Judicial Division of Federal High Court, Lagos, you Adejare Adegbenro ‘m’, Gbolahan Obanikoro ‘m’, Balmoral International Limited, M.O.B Integrated Limited, DDSS International Company Ltd, and other Directors of the Companies (now at large) did directly or indirectly convert, transfer, retain, take possession of, or control N1, 356, 057, 330.43 (One Billion, Three and Fifty Six Million, Fifty Seven Thousand, Three Hundred Thirty Naira, Forty Three Kobo).
You committed an offense against Section 18(2)(b) & (d) of the Money Laundering (Prevention and Prohibition) Act, 2022, and are subject to punishment under Section 18(3). The funds belong to Diamond Bank, which is now Access Bank Plc. You should have known, or should have known, that they were part of the proceeds of an illegal act.
That sometime in May 2019 in Lagos within the aforementioned judicial division of the Federal High Court, you Adejare Adegbenro ‘m’, Gbolahan Obanikoro ‘m’, Balmoral International Limited, M.0.B Integrated Limited, DDSS International Company Ltd, and other Directors of the Companies (now at large) did, with intent to defraud, obtain the sum of N1, 000,000.00 (one billion naira) from Diamond Bank now Access Bank Pic by falsely claiming through the bank’s employees and officers that you and your company, DDSS International Company, were involved in the importation of cars from Dubai for sale in
Based on this representation, the Bank released the money to you through the account of your company, DDSS International Company, as a loan facility. You later transferred the money from the said account of DOSS International Company to the account of another of your companies, now known as Balmoral International Limited, in order to conceal the true origin or source of the funds. and that the money was for the cost of financing the importation of a set of brand-new cars from Dubai to restock your business and for sale to your various customers.
so committed a violation of Advance Fee Fraud and Other Fraud Related Offenses Act No. 14 of 2006, Section 1(1)(a), and was punished under Section 1(3) of the same Act.
As stated in the aforementioned Judicial Division of the Federal High Court, Lagos, sometime in May 2019, you Adejare Adegbenro’m’, Gbolahan Obanikoro’m’, Balmoral International Limited, M.O.B Integrated Limited, DOSS International Company Ltd, and other Directors of the Companies (now at large) converted, transferred, took possession of, or controlled N1,000,000.00 (one billion naira) belonging to Diamond Bank, now Access Bank Plc, with the intent to
committed an offense against Section 18(2)(b) & (d) of the Money Laundering (Prevention and Prohibition) Act, 2022, and was liable under Section 18(3) for knowing or reasonably should have known that such money were or were part of the profits of an illicit Act.CONTINUE FULL READING>>>>>
