Tag: Money laundering

Binance executive rejected State House Clinic medical intervention, EFCC tells court

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The EFCC on Wednesday told a Federal High Court in Abuja that the detained Binance Holdings Limited’s executive, Tigran Gambaryan, rejected the medical intervention by the State House Clinic.Counsel for the EFCC, Ekele Iheanacho, told Justice Emeka Nwite while opposing Gambaryan’s second bail application moved by his lawyer, Mark Mordi SAN.Iheanacho, who drew the attention of the court to the State House Clinic’s medical report, argued that despite that Gambaryan’s ill-health was not as worse as it was being painted, said the report showed that the defendant was dissatisfied with…

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Coy drags REA MD, others to court over alleged breach of Money Laundering Act

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Donnington Nigeria Ltd has dragged Mr Ahmad Salihijo Ahmad, Managing Director and Chief Executive Officer, Rural Electrification Agency (REA), and others to a Federal High Court, Abuja on criminal charges bordering on breach of the Money Laundering Act.Ahmad (2nd defendant) was sued alongside a company, Velocity Logistics & Marine Limited (1st defendant), where he was alleged to be a director and shareholder on 12-count charge before Justice James Omotosho.The charge is marked: FHC/ABJ/CR/175/2023.The company alleged that Ahmad aided Velocity Logistics, a designated non-financial institution, between Jan. 2014 and Jan. 2018…

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Trial of ex-Lagos A-G, Shasore, on 14-count money laundering charge stalled

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The trial in the Economic and Financial Crimes Commission (EFCC)’s money laundering suit against former Attorney-General and Commissioner for Justice, Lagos State, Olasupo Shasore, SAN, was on Thursday stalled.The trial of former Attorney General and Commissioner for Justice, Lagos State, Olasupo Shasore, SAN, at a Federal High Court, Abuja, has been stalled.Economic and Financial Crimes Commission (EFCC) is prosecuting Shasore on a 14-count money laundering charge before Justice Inyang Ekwo.EFCC had, on Nov. 4, 2022, arraigned the ex-commissioner alongside his company, Middlesex Investments Ltd. before Justice Ekwo.While the Federal Republic…

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Court clears ex-NNPC GMD Andrew Yakubu of money laundering charge

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A Federal High Court, Abuja, on Thursday, discharged and acquitted Andrew Yakubu, former Group Managing Director (GMD), Nigerian National Petroleum Corporation (NNPC) of money laundering charge.Justice Ahmed Mohammed, in a judgement, held that the Economic and Financial Crimes Commission (EFCC) failed to prove its case beyond reasonable doubt.Justice Mohammed said that the EFCC had failed to prove the three ingredients of Section I of the Money Laundering Prohibition Act which it relied upon.According to him, to sustain the conviction of the defendant (Yakubu) in this Act, the burden of proof…

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Alleged money laundering: Court fixes March 7 for trial-within-trial for Adoke, 1 other

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A Federal High Court, Abuja, has fixed March 7, 2022, for trial-within-trial in a money laundering case filed by the Economic and Financial Crimes Commission (EFCC) against former Attorney-General of the Federation and Minister of Justice, Mohammed Adoke, and other.Justice Inyang Ekwo fixed the date, on Tuesday, at the instance of the EFCC lawyer, Bala Sanga.The News Agency of Nigeria (NAN) reports that the EFCC is prosecuting Adoke (1st defendant) alongside an oil mogul, Mr. Aliyu Abubakar (2nd defendant), on a 14-count charge. Justice Ekwo had, on Monday, fixed today…

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