The Federal Excessive Court docket in Abuja has ordered the ultimate forfeiture of N204.8 million, 15 properties, and eight luxurious vehicles linked to fraudulent actions perpetrated towards some Nigerian companies.
The Financial and Monetary Crimes Fee (EFCC) secured the judgement towards Jedidiah Ezenwa and her firms and in favour of the victims of the alleged crimes.
The decide, Inyang Ekwo, issued the forfeiture order in a case initiated by EFCC towards Ms Ezenwa, Jedidiah Cement Business Ltd, Omega World Assets, Jedidiah Common Transport Hephz Ltd, Afriinvest Asset Administration Ltd, The Guguru Firm Ltd, and Josien Holdings Ltd.
The primary respondent, a purported overseas forex vendor, had approached the petitioner and sufferer, Ibrahim Amusan, for a overseas forex transaction involving the acquisition of US {dollars}.
Alleged fraud
Based on a press release from EFCC’s Head of Media and Publicity, Dele Oyewale, on Tuesday, other than Mr Amusan, different victims of the alleged crimes are Afri Make investments Ltd, Joisen Holdings Ltd, and Jack Welch Petroleum Companies Ltd.
Mr Oyewale mentioned the case started when the victims filed a petition alleging conspiracy, acquiring cash underneath false pretences, fraudulent conversion of funds, and cash laundering towards Ms Ezenwa.
Investigations, in keeping with EFCC, revealed that Ms Ezenwa solicited funds for overseas forex transactions however as an alternative diverted them for private use, buying quite a few properties and automobiles.
The EFCC acknowledged that Joisen Holdings Ltd transferred N630 million to Hamilton Assets Worldwide, which then transferred the naira equal to Ms Ezenwa’s Unity Checking account on her instruction in change for US {dollars}. In complete, the petitioners transferred N1.904 billion to Mrs Ezenwa’s firm for overseas forex, which she failed to supply as agreed, EFCC mentioned.
Forfeiture
EFCC’s counsel, Ibrahim Buba, earlier secured an interim forfeiture order, which was publicly introduced to ask potential professional house owners of thr belongings to make a case to reclaim them. With no objections raised throughout the court-stipulated timeframe, the EFCC utilized for and obtained the ultimate forfeiture order.
Defence counsel Jerry Musa argued that the matter was a breach of contract outdoors the EFCC’s jurisdiction.
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Nevertheless, the decide, Mr Ekwo, dismissed this argument, affirming EFCC’s authority to research and prosecute the case underneath part 6 of its Institution Act.
Mr Ekwo dominated that the belongings had been proceeds of crime and ordered their ultimate forfeiture to the victims by means of the Federal Authorities.
“He (decide) thereafter ordered them to be lastly forfeited to the victims by means of the Federal Authorities,” EFCC mentioned in its assertion.
Forfeited belongings
The forfeited belongings, in keeping with EFCC, embody a four-bedroom ensuite condominium in Guzape, a alternative space in Abuja, a five-bedroom semi-detached duplex in Chevy View Property, Ajah, Lagos, and a number of other different residential properties in Lagos, Delta State, and Abuja.
The posh automobiles forfeited embody a white SLK 350 Mercedes Benz, a black Hummer Jeep H3, a wine-red BMW X6 SUV, a black CLS 63 Mercedes Benz, a black and white BMW Z40 IL, and a black Mercedes Benz G-Wagon SUV.
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With the ultimate forfeiture order issued in favour of the victims of the alleged crimes, the EFCC is now anticipated to promptly facilitate the discharge of the belongings to them.
Response
The fee described the ruling as a crucial step in its efforts to fight monetary crimes and ship justice to the defrauded events.
Mr Oyewale mentioned the ruling is important to EFCC’s ongoing efforts to battle monetary crimes.
“This ruling marks a big milestone in our dedication to making sure that justice is served and that the proceeds of crime are recovered and returned to the rightful victims,” Mr Oyewale mentioned.
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