AGF takes over N16.6 billion fraud in opposition to Polaris Financial institution, workers member

The Lawyer-Basic of the Federation (AGF) and Minister of Justice, Lateef Fagbemi, has taken over the N16.5 billion fraud trial of Polaris Financial institution and a workers member, Chinenye Duru.

The workplace of the Inspector Basic of Police, which filed the case in December 2023, accused Polaris Financial institution and Mr Duru of fraudulently diverting over N16.5 billion from a buyer’s varied accounts inside practically eight years.

The police recognized the financial institution buyer and the sufferer of the alleged crime as Onukogu Victor Hezekiah, the religious head of the Residing Christ Mission Church, Onitsha, Anambra State, South-east Nigeria.

In accordance with the prosecution, the defendants diverted the cash from Mr Hezekiah’s accounts, fondly referred to as Daddy Hezekiah’s accounts, between 2017 and 2023, whereas Mr Duru served because the buyer’s account officer.

A lawyer from the AGF workplace, V.J. Alma, knowledgeable the trial decide, Inyang Ekwo of the Federal Excessive Court docket, Abuja, that Mr Fagbemi directed the takeover of the case from the police within the train of his powers because the AGF beneath Part 174(1)(b) of the Nigerian structure.

Mr Alma didn’t give any motive for the AGF workplace’s determination to take over the case.

“We have now written a letter to the Nigerian police notifying them of this place and requesting the unique case file in a letter dated 29 Might 2024,” the lawyer stated. “We’re nonetheless ready for the unique case file.”

Mr Ekwo requested Mr Alma if the AGF workplace had written to the courtroom concerning the improvement, and the lawyer responded in affirmative.

Mr Alma urged the courtroom to repair the matter for trial on a date after the about-to-commence annual trip of judges.

The decide then advised Mr Duru’s lawyer, Chidi Ezenwafor, to advise Polaris Financial institution, the first defendant within the case, to have interaction a lawyer to characterize it within the case.

Mr Ekwo postponed the listening to within the case until 18 and 19 November for trial.

The Information Company of Nigeria (NAN) studies that the Inspector-Basic of Police arraigned Mr Duru on 11 counts on 19 January.

He pleaded not responsible to the counts.

The decide remanded Mr Duru in a correctional facility pending the listening to of his bail utility.

Polaris Financial institution Plc and Mr Duru are the primary and the 2nd defendants within the case marked FHC/ABJ/CR/603/2023.

Fees

Within the expenses, the prosecution accused Polaris Financial institution and Mr Duru of fraudulently withdrawing N16.5 billion from Mr Hezekiah’s account numbers 1040495455 and 1060104735 between 17 November 2017 and 14 August 2023.

Throughout the identical interval, the prosecution alleged that the defendants additionally fraudulently withdrew N75.534 million from the shopper’s different account, 4010023601.

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In accordance with the prosecution, the defendants additionally fraudulently withdrew N13.3 million from the shopper’s account quantity 40910106770 and N16.3 million from his different account quantity 411054152 throughout the identical interval.

The costs stated the defendants withdrew the cash with out authorisation from the proprietor of the accounts with the intent of changing it for his or her private use.

The police charged the offences beneath sections 18 (2) and 21 (a) of the Cash Laundering (Prevention and Prohibition Act, 2022. A number of the offences are punishable beneath part 18(3) of the cash laundering legislation, the police stated.

(NAN)

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