Alleged Fraud: Court Orders Temporary Forfeiture Of N206M Found In Company’s Account
A Federal High Court in Lagos today froze the sum of N206 million belonging to a firm being investigated by the Economic and Financial Crimes Commission (EFCC) for alleged fraud.
The EFCC said it reasonably suspected the sum to be part of a fraudulent transaction and proceeds of crime by two respondents; Vermilion Studio Products Ltd and a woman, Akintola Olubunmi Vera.
Justice Abdulaziz Anka, authorised the agency to confiscate the sum pending the determination of its investigation and possible prosecution of the case.
Justice Anka made the interim order following an ex parte application dated August 10, 2017 by the commission’s lawyer, George Chia-Yakua.
Chia-Yakua told the judge that the sum was domiciled in two First Bank accounts numbered 3100844602 belonging to Vermilion Studio Products and 3011147218 belonging to Vera.
According to a supporting affidavit by an EFCC investigating officer, Paul Ugema, the agency commenced investigation of the matter following a petition it received.
The petition alleged that the respondents diverted over N206m property of Mooncrest Enterprises Nigeria Limited.
“It was discovered that the respondents were making suspicious funds transfer into the accounts subject of investigation.
“I know as a fact that the money found in the accounts of the respondents are reasonably suspected to be proceeds of crime,” Ugema said.