EFCC Arraigns Man Over N4.5 Million Fraud

The Economic anf Financial Crimes Commission, EFCC on Tuesday 11 October 2016 arraigned one Ikechukwu Onyia Henry before Hon. Justice. C.O Ajah of the State High Court Enugu, Enugu State on four court charge bordering on obtaining Money by false pretenses and  issuance of dud cheques to the tune of N4500,000.00 (Four Million five hundred thousand Naira) contrary to section 1(2)(b)
of  the Dishonored Cheques (offences)Act, Cap D11, Laws of the Federation, 2004 and punishable under section 1(1)(b) of the same Act.

  It was alleged in the petition to the commission that the suspect, a former staff of EMEL groups of companies Lagos and a self styled importer of baby diapers in January 2015, approached the petitioner for a loan of N3,000,000.00 (Three Million Naira) to increase importation of his stocks with an agreement to pay an interest of N1,500,000.00(One Million Five Hundred Naira) in return for the capital sum.

Investigation however revealed that the transaction was fraudulently entered into by the accused solely to use the loan obtained to offset debts incurred from his former office while led to his dismissal. It was also discovered that his company Alteal Wnterprises was non functional and without any presence in the registered address.

  Eze having failed to pay back the capital and interest sum of the loan went ahead at various times, to issue six post dated cheques to the complainant which when presented, returned unpaid due to insufficient amount in the account. Further investigation revealed his dishonest intention when his claim to have written the bank to stop honouring of the cheques was rebutted by the bank.

  When called to the dock, the accused pleaded not guilty to the four counts charge preferred against him necessitating the prosecuting counsel Barr. Muhammad Shehu to apply for a trial date.

The defense counsel Barr. C.B. Onovo on the other hand informed the court of a motion for bail dated 10th October. 2016 and filled on 11th October, 2016 for the bail of  his client.

The presiding Judge granted the accused bail in the sum of N500,000 and surety in like sum, the surety must be resident of Enugu State; the surety is to deposit 2 passport photographs and surety address to be verified by EFCC.

One of the counts read:

That you Onyia Ikechukwu Henry doing business under the name and style of ALTEAL ENTERPRISES sometim in April 2015 at Enugu, Enugu State with jurisdiction of TheHigh Court of Enugu issued a Fidelity Bank Cheque number 1758860 dated 8th April, 2015 for the sum of N3,000,000.00 (Three Million Naira Only) to Emeka Okonkwo which when presented for payment with three months was dishonored on the grand that the account on which the cheque was drawn did not contain sufficient fund and thereby committed an offence contrary to section 1(2)(b) of the Dishonored cheques (offences)Act, Cap D11, Laws of the Federation, 2004 and punishable under section 1(1)(b)(i) of the same Act.

The case has been adjourned to 7th November, 2016 for trial.