Monday, 3 August 2015

EFCC Charges Ibru for alleged fraud of N1.3 billion naira

Goodie Ibru, the elder brother to the pub­lisher of The Guardian, the late Mr. Alex Ibru, has been charged before a Lagos High Court over his alleged role in alleged N1.3 billion fraud, reliably gathered.

According to the charge filed before Justice Raliatu Adebiyi by the  [post_ad] Economic and Financial Crimes Commission (EFCC), Ibru was said to have conspired with three corporate orga­nizations, Associated Ven­tures International Lim­ited, IHL Services Limited and Clearview Investment Limited, to allegedly com­mit the fraud between 2010 and this year.
The EFCC in the 11-count charge alleged that Ibru and the three companies between Janu­ary and December 2010 conspired to steal and fraudulently converted N867,700,900 property of Ikeja Hotels Plc.
Besides, the anti-graft agency said EFCC that between June and October 2010 within Lagos judicial division, Ibru and the cor­porate organizations joint­ly conspired with intent to defraud, converted N55.1 million property of Ikeja Hotels Plc to personal use.
The prosecution claimed that the suspects used an­other company, Sherwood Limited as a conduit pipe to fraudulently siphon the N55 million from Ikeja Hotels.
The four defendants were also alleged to have fraudulently received £10,075 through Sher­wood Nigeria Limited as profit due to Ikeja Hotels Plc.
Also, EFCC alleged that between March and October 2010, the four de­fendants unlawfully con­verted $13,373 belonging to Ikeja Hotels Plc to per­sonal use through Sher­wood Limited (Managers of Sheraton Hotels, Ikeja.)
According to the prose­cution, the four defendants in February 2011 fraudu­lently converted to per­sonal use N27.5 million of Ikeja Hotels Plc. The fourth defendant, Clear­view Investment Limited was alleged to have been used as a conduit pipe for the controversial deal.
Between January and February this year, EFCC alleged that the four de­fendants dishonestly con­verted N21.3 million of Ikeja Hotels Plc to their personal use alleged to have been unlawfully re­ceived through Sherwood Limited.
According to the charge, between April and Octo­ber 2011, the accused al­legedly converted N120.5 million, property of Ikeja Hotels Plc to their per­sonal use which they al­legedly received through Sherwood Limited.
The offences, accord­ing to the prosecution, are contrary to and punishable under Sections 16, 370 (7) (b) and 9 of the Criminal Code Cap C.17 Vol. 11 Laws of Lagos State of Nigeria 2003.



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