N140m Fraud: Fake international company directors arrested

Nuhu Ibrahim

The Economic and Financial Crimes Commission, EFCC, on Tuesday, June 3, 2014, arraigned the duo of Ahmed Ali Mohammed and Nuhu Ibrahim Ishaq before Justice Ibrahim Christopher Auta of the Niger State High Court, Minna on a 6-count charge bordering on conspiracy, forgery and obtaining by false pretences. 

Ahmed Ali Mohammed

The suspects allegedly paraded themselves as directors of Sandabe International Company Limited and, in that assumed  capacity, fraudulently obtained the sum of N140,000,000.00 (one hundred and forty million naira) from one Hon. Mohammed Umar Bago.

Count two of the charge reads:

"that you Ahmed Ali Mohammed, and Nuhu Ibrahim Ishaq, sometime between 1st March, 2010 and 1st April, 2010 at Minna in Minna Judicial Division of the High Court of Niger State, with intent to defraud obtained the sum of N140,000,000.00(one hundred and forty million naira) from one Hon. Mohammed Umar Bago under the false pretence that you own a company known as Sandabe International Company Limited which has a partnership agreement with MTN to deal in MTN products and that you will invest the said amount into the company's MTN business on his behalf and to be giving him an interest of six percent (6%) of the capital invested every month, which you knew to be false , and thereby committed an offence contrary to section 1 (1)(a) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006 and punishable under section 1(3)  of the same Act".

The accused persons pleaded not guilty when the charge was read to them.
Upon their plea, counsel to EFCC, Ibrahim Audu urged the court to fix a date for trial to commence and remand the accused in prison custody.

However, defence counsel Aisha H. Shehu prayed the court to admit her clients to bail saying the offence for which they are being prosecuted is bailable.

Audu, however, opposed the bail application on the grounds that “the offences are severe in nature”, and carry a minimum imprisonment of 7years.

Justice Auta, after listening to the arguments of counsel, asked the defence to make a formal application and ordered the accused persons to be remanded in prison custody.

The case has been adjourned to June 19, 2014 for hearing on the bail application.