- Advertisement -
- Advertisement -
NewsAppeal court sentences Senator Nwaoboshi to seven years imprisonment...

Appeal court sentences Senator Nwaoboshi to seven years imprisonment for money laundering

-

- Advertisment -

Appeal court sentences Senator Nwaoboshi to seven years imprisonment for money laundering

The Lagos Division of the Court of Appeal today July 1, 2022 convicted and sentenced Senator Peter Nwaoboshi, senator representing Delta North Senatorial District at the National Assembly, to 7 years imprisonment along with his two companies: Golden Touch Construction Project Ltd and Suiming Electrical Ltd

 

A statement released by the EFCC says the Court of Appeal also ordered that the companies who were the 2nd and 3rd respondents in appeal be wound up in line with Section 22 of the Money Laundering (Prohibition) Act, 2011 (as amended) and their properties forfeited to the Federal Government of Nigeria.

 

The panel, comprising Justices Abdullahi Bayero, Obande Ogbuniya and Peter Affen in their judgment held that the trial court erred because the prosecution proved its case beyond reasonable doubt against the respondents and thus reverse the earlier judgement discharging and acquitting the respondents.

 

The Economic and Financial Crimes Commission had challenged the judgment of Justice Chukwujekwu Aneke of the Federal High Court which on June 18, 2021 discharged and acquitted the defendants of a two count charge of fraud and money laundering.

 

EFCC had arraigned the three defendants over the acquisition of a property named Guinea House, Marine Road, in Apapa, Lagos, for N805 million. Part of the money paid to the vendor, precisely a sum of N322 million transferred by Suiming Electrical Ltd on behalf of Nwaoboshi and Golden Touch Construction Project Ltd , was alleged to be part of proceeds of fraud.

 

But in his judgment, Justice Aneke held that the prosecution failed to call vital witnesses and tender concrete evidence to prove the elements of the offences for which it charged the defendants.

 

Justice Aneke said the evidence of PW2 “proved that the third defendant obtained a loan of N1.2 billion from Zenith Bank for purchase of additional equipment and as provision of working capital.

“It also proved that the loan of N1.2 billion together with interest of N24 million was properly granted to the third. Nothing else was proved by the complainant or prosecutor in this case,” the judge said

 

He claimed a fatal blow was dealt the case of the prosecution by its failure to call officials of Sterling Bank “to testify and probably tender exhibits F and F10”. Consequently, he discharged and acquitted the defendants.

 

However ruling on the EFCC’s appeal today, the Court of Appeal held that the trial judge erred in dismissing the charges against the respondents. It said the prosecution had proved the ingredients of the offence and consequently found the defendants guilty as charged.

- Advertisement -

Latest news

Teen Boys Allegedly Punch 6-Year-Old Girl, Steal Her Scooter & Flee – Crime Online

A group of New York teens is accused of punching a young child and then...

Ukrainian President Volodymyr Zelenskyy praises Jessica Chastain as she visits war-torn country

Ukrainian President Volodymyr Zelenskyy has praised actress Jessica Chastain for aiding his country amid the nation's ongoing conflict with...

Former Miss Nigeria, Beauty Tukura disqualified as #BBNaija housemate (videos)

Former Miss Nigeria and housemate on season 7 of Big Brother Naija reality show, Beauty Tukura has...

Who’s Jessica Tarlov from Fox News? Wiki: Height, Husband, Age, Married

Just a simple reminder that article is created and owned only by biographytribune.com. Article cannot be re-published in any...
- Advertisement -

The Block quitter Elle Ferguson shows off her wardrobe overflowing with designer fashion

Influencer Elle Ferguson sparked envy among The Block viewers on Sunday night as she opened the doors of her...

What would Milton Friedman say…. – CITIZEN FREE PRESS

Posted by Kane on August 7, 2022 5:30 pmNEWS JUNKIES -- CHECK OUT OUR HOMEPAGE I wonder what Nobel Prize-winning...

Must read

- Advertisement -

You might also likeRELATED
Recommended to you

- Advertisement -