Fighting Corruption: N500m cash laundering cost: Court adjourns trial of two PDP chieftains to Oct. 26

Fighting Corruption: N500m money laundering charge: Court adjourns trial of 2 PDP chieftains to Oct. 26

The EFCC had arraigned them on June 29 on a three-count cost bordering on cash laundering.

A Federal High Court in Lagos on Monday adjourned till Oct. 26 the trial of Clement Faboyede and Modupe Adetokunbo, chieftains of the Peoples Democratic Party (PDP), charged with cash laundering.

Faboyede, the Ondo State Chairman of PDP, and Adetokunbo, the Director-General of the celebration’s 2015 campaign organisation within the state, are being prosecuted by the Economic and Financial Crimes Commission (EFCC), over alleged N500 million cash laundering.

The EFCC had arraigned them on June 29 on a three-count cost bordering on cash laundering.

They pleaded not responsible to the fees and have been granted bails within the sum of N50 million every.

The trial of the accused could not, nonetheless, continued on Monday following the absence of the trial decide, Justice Saliu Saidu, who is alleged to be away for the annual judges’ convention in Abuja to kick off the brand new legal year.

Consequently, the case was adjourned till Oct. 26 for trial.

The accused, in accordance with the prosecution, dedicated the offences on March 27, 2015.

They have been stated to have conspired to just accept money fee of N500 million which exceeded the amount allowed by regulation with out going by means of any monetary establishment.

The offences contravened the provisions of Sections 16, 16 (2) and 18 of the Money Laundering (Prohibition) Act, 2011 (as amended by Act No.1 of 2012).

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