N7.1bn Fraud: Court Convicts Sen. Orji Kalu
Justice Mohammed Idris of a Federal High Court in Lagos has convicted a former governor of Abia state, Orji Uzor Kalu and his company Slok Nigeria Ltd, of 39 Counts charge of Fraud and Money Laundering.
The court found the second convict, his former commissioner of Finance Jonnes udeogo guilty of 34 counts counts
The prosecution claimed that the N7.1bn “formed part of the funds illegally derived from the treasury of the Abia State Government and which was converted into several bank drafts before they were paid into the said company’s account.”
The prosecuting counsel, Rotimi Jacobs (SAN), said the ex-governor violated Section 17(c) of the Money Laundering (Prohibition) Act, 2004, and was liable to be punished under Section 16 of the same Act.
Apart from the N7.1bn, which he was accused of laundering, the ex-governor and the other defendants were also accused of receiving a total of N460m allegedly stolen from the Abia State Government treasury between July and December 2002.
The prosecutor said they breached Section 427 of the Criminal Code Act, Cap 77, Laws of the Federation of Nigeria, 1990.
The court will soon proceed to sentence.
Deji Sasegbon’s Latest Dictionary: Place your order now. Call:08076095047, 07036688678, 08035629991
Newswire, we present the world⁴ of law and the issues that engage them. This edition is yet again, ‘Mind-blowing’. Go get your copy(ies) Now!