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Home News Crime

EFCC Arraigns Man For N70m Assets Auction Scam

by Present Nigeria
August 25, 2021
in Crime
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EFCC Arraigns Man For N70m Assets  Auction Scam
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The Economic and Financial Crimes Commission, EFCC on Wednesday, August 25, 2021 arraigned one Ibrahim Idris before Justice J. Oriji of the FCT High Court, Abuja on a two count charge bordering on conspiracy and obtaining N70m ( Seventy Million Naira) by false pretence.

Idris allegedly obtained the sum from his victim by deceiving him into believing that the money was a requirement to establish his capacity to execute a contract of auctioning assets forfeited to the Federal Government.

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Count one of the charge reads, “That you Idris Ibrahim on or about 11th December, 2020, in Abuja, within the jurisdiction of the High Court of the Federal Capital Territory with the intent to defraud obtained the sum of N50,000,000.00 (Fifty Million Naira) from Fatai Ibrahim by falsely representing to him that the money was a requirement to show capacity to execute a contract of auctioning assets forfeited to the Federal Government of Nigeria, a representation which you knew to be false and thereby committed an offence contrary to section 1 (1) (a) and punishable under section 1(3) of the Advance Fee Fraud and Other Related Offences Act, 2006.”

Count two reads, “That you Idris Ibrahim on or about 29th December, 2020, in Abuja, Federal Capital Territory, within the Jurisdiction of this Honorable Court with intent to defraud obtained the sum of N20,000,000.00 ( Twenty Million Naira) from Fatai Ibrahim by falsely representing to him that the money was a requirement to show capacity to execute a contract of auctioning assets forfeited to the Federal Government of Nigeria, a representation which you knew to be false and thereby committed an offence contrary to section 1 (3) (a) and punishment under section 1 (3) of the Advance Fee Fraud and Other Related Offences Act, 2006.”

The defendant “pleaded not guilty” to the charges.

In view of his plea, prosecuting counsel A. M Ocholi asked the court to remand the defendant in custody and fix a date for trial to commence.

But the defence counsel, A.O Alaga informed the court of a pending application for the bail of his client and urged the court to admit the defendant to bail.

The prosecution opposed the application on the grounds that the defendant was a flight risk.

However, Justice Oriji granted bail to the defendant in the sum of N30m (Thirty Million Naira) only and two sureties in like sum. One of the sureties must have a property in Abuja, with the original Certificate of Occupancy confirmed by the court. The second surety must be a civil servant of Grade Level 12 or above, which office address shall be confirmed by the court. Furthermore, the defendant is not to travel outside Nigeria without the permission of the court.

The date for the commencement of trial will be communicated to the parties as soon as the court resumes from vacation.

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PRESENT, a credible online newspaper from the cell of Red Carpet Communications Limited, is published by an experienced and profoundly resourceful journalist, Yemi Olowolabi.
It leads in lucid presentation of trending stories and breaking news in Politics, Business, Economy, Entertainment, Sports, Lifestyles and Other Features.
With a heritage of in-depth coverage and adept leverage of core professionals, PRESENT is the trusted witness of the news.

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