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The Lagos State Excessive Courtroom in Ikeja has adjourned until 24 October for additional listening to within the alleged N4.8 billion fraud trial of Cletus Ibeto, Chairman, Ibeto Power Growth Firm.
The courtroom scheduled Thursday for the Financial and Monetary Crimes Fee (EFCC) to arraign Mr Ibeto alongside his Ibeto Power Growth Firm and Odoh Holdings Ltd on 10 counts of fraud involving a N4.8 billion land deal.
Within the ten counts, EFCC accused the defendants of acquiring by false pretences, fraudulent conversion of property, prison breach of belief, forgery and deception, in accordance with an EFCC press assertion issued on Friday.
Nevertheless, the scheduled arraignment couldn’t proceed attributable to uncertainties surrounding ongoing out-of-court settlement talks between the events related to the case.
Mr Ibeto was absent from Thursday’s proceedings, in accordance with the assertion signed by EFCC’s spokesperson, Dele Oyewale.
The prosecution counsel, Rotimi Jacobs, famous on the proceedings that slightly than showing in courtroom for his arraignment, Mr had chosen to barter a plan to pay again the funds concerned within the case with the fee.
Mr Jacobs, a Senior Advocate of Nigeria (SAN), stated, “We have to know what their plans are. Are they planning to proceed with the litigation? Or do they need to sit with the prosecution and the complainant to barter an out-of-court settlement?
“He has paid again a big a part of the cash, and we have to know whether or not we must always use it as an exhibit or think about it his dedication to an out-of-court settlement as a result of they’ve continued to file totally different functions difficult the courtroom’s competence to listen to the matter.”
Defence counsel, Adebayo Oshodi, didn’t react to the submissions by Mr Jacobs and as a substitute sought the depart of the courtroom to re-list an software difficult the courtroom’s territorial jurisdiction.
Responding, Mr Jacobs kicked towards the decision for the re-listing of the appliance, which he stated the courtroom struck out primarily based on its voluntary withdrawal by the defence staff.
“It cannot be re-listed earlier than the identical courtroom,” he added.
The trial choose, Oyindamola Ogala, upheld the argument of the prosecution counsel.
The choose additionally frowned on Mr Ibeto’s failure to seem in courtroom.
As a substitute of showing in courtroom, the choose stated, Mr Ibeto has been assembly EFCC investigators to debate paying again the cash he allegedly owes the complainant as a substitute of showing in courtroom.
She stated she wouldn’t touch upon the transfer by the prosecution and the defence to settle the matter out of courtroom.
She adjourned until 24 October for additional listening to.
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Rely one reads: “That Chief Cletus Ibeto, Ibeto Power Growth Ltd and Odoh Holdings Ltd., between June 2016 and Could 2017, inside the jurisdiction of the courtroom, by false pretence and with intent to defraud, obtained from Dozzy Oil & Fuel Ltd and Sir Daniel Chukwudozie, the sum of N4.8 billion purporting similar to be consideration for 22.6536 hectares of land, which he claimed to have on the finish of Reclamation Highway Format, Port Harcourt, Rivers State by a deed of sublease executed by Odoh Holdings and Ibeto Power Growth Ltd when he solely had 7.9 hectares of the stated land.”
Rely three reads: “That Chief Cletus Ibeto, Ibeto Power Growth Ltd and Odoh Holdings Ltd., on or about 30 January 2018, allegedly with intent to defraud, cast a Deed Of Sublease between Odoh Holdings Ltd and Ibeto Growth Ltd purportedly, registered as No 47, Web page 47, Vol. 280 of the Lands Registry, Rivers State whereby they claimed that Odoh Holdings Ltd acquired leasehold curiosity in respect of twenty-two.6536.”
The defendants are additional accused of acquiring the sum of N2.5 billion from their alleged victims as consideration for a non-existent 14.1 hectares of land.
The allleged offences violate part 1 of the Advance Price Fraud Act 2006, Part 365(3d) and (e), and Part 366 of the Legal Regulation of Lagos State, 2015.
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