N700m scam: EFCC confiscates suspects’ 44 houses

A Federal High Court sitting in Umuahia has granted a forfeiture order to the Economic and Financial Crimes Commission, EFCC, to seize 44 houses belonging to eight persons who defrauded Union Bank of Nigeria Plc to the tune of N700 million.

The order, which was given by Justice F. A. Olubanjo, affects the property of Chikezie Neoma Agbara, Amarachi Iroha, Lucy Nwosu and Glo Chizzy International Limited.

Others are Nneamaka Raphael Iheabuchi, Nnamdi Nwosu, Ikechukwu Nwosu, Chukwu Chikezie and Oliver Ogbujie.

The accused were arraigned in two separate charges over criminal conspiracy, stealing by fraudulent conversion, money laundering and fraud.

The EFCC had on January 4, 2013, sought the leave of the court to seize their assets in line with sections 28 and 34 of the EFCC (Establishment Act) 2004 and Section 13(1) of the Federal High Court Act, 2004.

Section 28 reads: “Where a person is arrested for an offence under this Act, the Commission shall immediately trace and attach the assets and property of the person acquired as a result of such economic or financial crime and shall thereafter cause to be obtained an interim attachment order from the Court.”

Justice Olubanjo in granting the interim forfeiture request ordered as follows, “That all assets as listed in schedule 1 to 5 of the ex-parte originating summons being proceeds of economic and financial crimes held directly by or for the benefit of or on behalf of the persons named in schedule 1 to 5 of this ex-parte originating summons be temporarily attached pending the conclusion of trial in charge Nos. FHC/UM/CR/30/2012-FRN VS. Chikezie Neoma Agbara and 3 Others; and FHC/UM/CR/77/2012-FRN VS. Chikezie Neoma Agbara and 6 Others”

A breakdown  of the assets affected by this order is as follows: A four bedroom apartment at World Bank Hosing Estate, Umuahia; twin two bedroom apartment at Amakama, Umuahia; one storey building of four flats at Umudike, Umuahia; an undeveloped plot of land at Government Station layout, Umuahia; and numerous others.


-- Vanguard