Court remands shipper over alleged $232.8m fraud
Justice Oluwatoyin Taiwo of an Ikeja Special Offences Court has remanded the Managing Director of Labrador Shipping Services Limited, Okafor Stanley in the custody of the Economic and Financial Crimes Commission (EFCC), over an attempt to defraud Zenith Bank Plc of the sum of $232.8 million.
Stanley will remain in the custody of the EFCC pending hearing of his bail application fixed for December 2.
The defendant, alongside his company, Labrador Shipping Services Limited, is facing a 12 count-charge of obtaining by false pretence, forgery, fraud, falsification of documents and being in possession of documents containing false information.
EFCC prosecuting counsel, Idris Muhammed, told the court that the defendant committed the offence between November 2019 and February 2021.
Idris told the court that the defendant forged several Bank of America confirmation and Barclays Bank messages on Swift Code Transaction purporting it to represent a transfer of various sums amounting to $232.8 million USD, to different companies accounts belonging to him.
He listed the companies accounts he used as conduit pipes to wire the monies to include Labrador Shipping Services Limited; Blessdore Oil and Gas Limited and Frankann Global Enterprises Limited.
The prosecutor said that the offences committed by the defendant are contrary to and punishment under sections 8(b)and 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.
He also told the court that the offences are contrary to Section 364 of the Criminal Law of Lagos State 2011 and punishable under the same Section.
The defendant pleaded not guilty to all the 12 counts charge.
Following his not guilty plea, his counsel, Onyeisi Ofulue, asked the court for a short adjournment, for hearing and determination of his clients’ bail application.
But the prosecutor, Idris, urged the court to remand the defendant in the custody of the Nigerian Correctional Services (NCoS), pending determination of the charges against him.
Ruling on the matter, Justice Taiwo, ordered that the defendant be remanded in the custody of the EFCC till December 2 pending hearing of his bail application.
(The Nation)
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