The Police Special Fraud Unit, Lagos, has arraigned a banker and seven other defendants before the Federal High Court in Lagos over an alleged N710m proof-of-funds fraud. The defendants were arraigned on a 12-count charge, the unit disclosed in a statement signed by its Public Relations Officer, DSP Ovie Kenneth Ewhubare, on Wednesday.
The defendants are Elvis Osazee Eghile, Egharevba MaryJane Osarieyekemwen, Precious Omonigho Irbhogbe, Aghatise Kelvin Uhuenkpoewen, Nweke Nnamdi Emmanuel, Obinyan Esther, Egharevba Emmanuel Osagioduwa and Emmanuel Obinyan Osenonome.
File photo: Court gavel. Photo: The PUNCH.
According to the police, investigation commenced after a petition was submitted to the Commissioner of Police over the alleged fraudulent disbursement of N710m placed on Post-No-Debit restrictions across eight designated accounts.
The PSFU boss further alleged that forged and disputed proof-of-funds, indemnity and Post-No-Debit documents were used to facilitate the scheme. He stated that as part of efforts to trace and recover assets suspected to have been acquired with the proceeds, investigators identified a 2020 Lexus RX 350 valued at N25m, two Toyota Camry cars valued at N8m each and a plot of land at Magodo Phase I, Lagos, reportedly purchased for N40m.
The police said a forensic analysis conducted by the Corporate and Public Accounts Fraud Section of the PSFU traced significant movements of the suspected proceeds to accounts linked to individuals allegedly connected with the principal suspect.
Investigations revealed that Emmanuel Obinyan Osenonome, a banker and Senior Relationship Officer, allegedly connived with Emmanuel Egharevba to obtain the cooperation and personal identification details of other individuals, which were used to facilitate the opening of the accounts used to launder the proceeds.
In the course of the probe, the police also alleged that part of the suspected proceeds was used to settle personal financial obligations, fund gambling activities, invest N40m in CIBEX trading and establish and operate a spa and beauty business reportedly furnished at a cost of about N60m.
The Commissioner of Police, PSFU, CP Eloho Edwin Okpoziakpo, reaffirmed the unit's commitment to conducting thorough, professional and evidence-based investigations, particularly into complex financial transactions and suspected abuse of banking processes.
He urged members of the public with useful information on the case to come forward, adding that the defendants would be prosecuted to the full extent of the law once the trial begins.
The matter is before the Federal High Court in Lagos, and the defendants are expected to take their pleas at the next hearing date.
Credit: The PUNCH.
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