Alleged N3.6bn fraud: Court to resume trial of ex-NDDC boss Dec. 17

A Federal High Court in Lagos State will on Dec. 17 resume the
trial of a former Director of the Niger Delta Development
Commission (NDDC), Tuoyo Omatsuli charged with N3.6 billion
fraud.

Omatsuli is charged alongside Don Parker Properties Ltd, Francis
Momoh and Building Associates Ltd, as second, third and fourth
defendants respectively.

They were arraigned on a 45-count charge bordering on
corruption, fraud and money laundering.

They pleaded not guilty to all the counts, and were granted bail
in the sum of N100 million each with two sureties each in like
sum.

Prosecution has called 10 witnesses to testify for it.

The suit was scheduled for continuation of trial on Nov. 26, but
was adjourned due to the absence of the judge, who is away on a
conference.

According to the charge, the defendants committed the offences
between August 2014 and September 2015.

Omatsuli was said to have procured the third and fourth
defendant (Momoh and Building Associates) to utilise a total sum of
N3.6 billion paid by Starline Consultancy Services Ltd. into an
account operated by Building Associates.

The prosecution said that the defendants ought to have known
that the sums formed part of proceeds of unlawful activities,
including corruption and gratification.

The News Agency of Nigeria (NAN) reports that the alleged
offences contravene the provisions of Sections 15(1), 15(2), 15(3)
and 18 of the Money Laundering (Prohibition) Act, 2011, as amended
by Act No 1 of 2012. (NAN)

Subscribe ToNairalaw News!