Perpetrators of N850m Bank PHB Fraud Arraigned by EFCC
MR.-OLAJIDE-OSHODI-LEFT-AND-MR.-ASHOK-ISRAN-LEAVING-THE-COURT
On Wednesday the 8th of August 2012, the Economic and Financial Crimes Commission prosecuted an Indian of Swiss nationality,
three officials of former Bank PHB, Bank PHB itself now known as Keystone Bank Plc, and Nulec Industries Limited on a two-count
charge of conspiracy to obtain by false pretence before Justice HabeebAbiru of the Lagos High Court, Ikeja.
The total of six defendants purportedly conned a Nigerian individual representing Dozzy Oil and Gas Ltd of N855,000,000.00 in June
2008. While the scam was based on the six defendants collecting the defrauded sum from the Dozzy oil representative for payment of
preference shares of Nulec Industries in an upcoming false initial public offering (IPO), the two counts officially charged against them
were conspiracy to obtain by false pretence and obtaining money by false pretence under sections 8(a) and 1(3) of the Advance Fee
Fraud and Other Related Offences Act No. 14 of 2006; and Section 1(1) (a) of the same act.
Related Posts
-
FCMB Bank (UK) Limited Launches Personal and Business Banking Proposition to Deepen InclusivenessFCMB Bank (UK) Limited, an independently incorporated subsidiary of...
- August 1, 2018
-
The Worrisome Trend of Sensational Social Media “Journalism” and the Impact On Legitimate Business Concerns: Recent Travails of FCMB, GTBank and First BankOn June 25, 2018 I woke up to yet...
- June 26, 2018
-
Azman Air commences flight operation in SokotoAzman Air Thursday commenced flight operation to Sokoto state....
- February 21, 2015
-
NRC increases Lagos goods trains, eyes fuel haulageThe Nigerian Railway Corporation says it has increased its...
- June 23, 2016
