EFCC Arraigns Kogi Assembly Candidate, Other For N1.4bn Fraud

The Economic and Financial Crimes Commission (EFCC) on Monday arraigned the Kogi State House of Assembly candidate of the New Nigeria Peoples Party (NNPP), Ismaila Atumeyi and two others before the Federal High Court in Lagos for hacking the database and stealing N1.4 billion from an old generation bank.

Atumeyi and his alleged fraud syndicate members, Ngene Dominic and Abdulmalik Salua were arraigned before Justice Tijani Ringim on an 18-count charge of conspiracy, cybercrime, money laundering, fraud and concealment of proceeds of fraud.

The EFCC counsel, Rotimi Oyedepo (SAN) had told the court that the defendants were arrested with N326 million and $610,500 cash part of the money they allegedly stole from the bank and its customers.

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Oyedepo also claimed that the third defendant, Abdulmalik Salau, an employee of the bank, supplied insider information that facilitated the cyber-attack on the bank by the syndicate.

The lawyer also told the court that the anti-graft agency recovered $470,000 from Femi, who he alleged without lawful authority directly caused modification of data held in the network of Union Bank, Plc leading to the fraudulent transfer of the total sum of N 1,403,343,400.00 to the account of FAV OIL AND GAS LIMITED and you thereby committed an offence contrary to and punishable under section 16(1) of Cybercrimes (Prohibition, Prevention, etc) Act, 2015.

He further allegedly that the defendants moved N887 million into the account of a firm, Fav Oil and Gas Limited, from where the fund was disbursed to several Bureau de Change operators and some auto dealers for exchange into United States dollars and purchase of high-end cars.

The EFCC counsel accused the defendants of laundering the sum in tranches of N100million, $480,000, N12.5million, N7million, N9million, N7 million, N12 million, N8 million, $140,000 and N326,400,000.

Oyedepo alleged that the defendants acquired a N12.5 million black Mercedes Benz C300, N7 million BMW 3 Series, N9 million Black Range Rover, N7 million Toyota Hilux 2014 upgraded to 2021, N12 million Black BMW SURXI 2016, N8 million White Toyota Hilux 2010 and N10 million White Toyota Hilux.

He also claimed that the defendants allegedly directly transferred N80million to FRANK MAYA INTEGRATED VENTURES, acquired a property known as NO.8, GRACE CRESCENT, EFAB QUEENS ESTATE, GWARIMPA, Abuja, concealed $140,000 and N326,400,000 in a Black Escalade SUV.

All the defendants, however, pleaded not guilty to the charge.

Justice Ringim had remanded them in the custody of the Nigerian Correctional Services pending the determination of their various bail applications.

17th April 2024
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