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EFCC arraigns businessman over alleged $1.5m fraud

Posted by By Kayode Ketefe on 2006/10/09 | Views: 543 |

EFCC arraigns businessman over alleged $1.5m fraud


A businessman, Igwe Madu, was on Friday arraigned by the Economic and Financial Crimes Commission before an Ikeja High Court presided over by Justice Morenike Obadina for allegedly defrauding an expatriate of $1.5m

A businessman, Igwe Madu, was on Friday arraigned by the Economic and Financial Crimes Commission before an Ikeja High Court presided over by Justice Morenike Obadina for allegedly defrauding an expatriate of $1.5m

He was alleged to have defrauded a Bahamas national, Mr. Ishmael Lightbourne, of the alleged sum between May 24, 2002 and March 2003.

Madu pleaded not guilty to the 24-count charge, comprising conspiracy, obtaining money by false pretences, forgery and altering.

The offences contravene sections of the Advance Fee Fraud and Other Related Offences Act, 1995.

Madu, aka Usman Mustapha, allegedly deceived Lightbourne into parting with the sum at different times by promising he would help him to obtain a big contract from the Nigerian National Petroleum Corporation.

He was also alleged to have forged documents to facilitate the fraud, making his victim to believe that the transaction was genuine.

After hearing Madu’s lawyer, Mr. Chidi Ikegbuna, who informed the court of the pending bail application of his client, Obadina remanded Madu in the EFCC’s custody, pending the hearing of his application fixed for October 10.

The trial of the accused was adjourned till October 15 and 16.

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Fay(Katy, Texas, US)says...

Actually translates to bravehearted.