N850m fraud: EFCC arraigns Bank PHB, officials, Indian
Category: Public Offers Private Placements
Thursday, 09 August 2012/ Yejide Gbenga-Ogundare, Lagos
AN Indian, three officials of former Bank PHB, Nulec Industries Limited and Bank PHB were, on Wednesday, arraigned on a two-count charge of conspiracy and obtaining by false pretence by the Economic and Financial Crimes Commission (EFCC) before Justice Habeeb Abiru of the Lagos High Court, sitting in Ikeja
The six people arraigned are Anayo Nwosu; Ashok Isran, an Indian who also has a Swiss citizenship and is the Chairman of Nulec Industries, which was also arraigned; Olajide Oshodi; Sunny Obazee and Bank PHB itself.
The six defendants, three of who work for Bank PHB, allegedly defrauded a Nigerian identified as Sir Daniel Chukwudozie, of Dozzy Oil, of N855,000,000. The three Bank PHB staff are Nwosu, Oshodi and Obazee.
The two counts for which they were arraigned are conspiracy to obtain by false pretence, contrary to Sections 8(a) and 1(3) of the Advance Fee Fraud and Other Related Offences Act No. 14 of 2006 and obtaining money by false pretence contrary to Section 1(1) (a) of the Advance Fee and Other Related Offences Act No. 14 of 2006.
According to the first count, “Anayo Nwosu, Ashok Isran, Olajide Oshodi, Sunny Obazee, Nulec Industries Ltd and Bank PHB, sometime in 2008, in Lagos, within the Ikeja judicial division, with the intent to defraud, conspired to obtain money by false pretence from Sir Daniel Chukwudozie of Dozzy Oil and Gas Ltd.”
The second count reads: "Anayo Nwosu, Ashok Isran, Olajide Oshodi, Sunny Obazee, Nulec Industries Ltd and Bank PHB, now known as Keystone Bank Plc, between June 2008 and July 2008, in Lagos, within the Ikeja judicial division, with the intent to defraud, obtained the sum of N855,000,000 from Sir Daniel Chukwudozie of Dozzy Oil under the false pretence that the said sum represented payment for preference shares of Nulec Industries in an upcoming intial public offer which pretence you knew to be false."