N3bn Fraud: Kogi Governor’s Nephew Docked, Remanded in Prison

Ali Bello.

The Economic and Financial Crimes Commission, EFCC, has arraigned one Ali Bello, a nephew of the Kogi State governor, Yahaya Bello.

Ali Bello was arraigend on Wednesday, February 8, 2023, before Justice Obiora Egwuatu of a Federal High Court, Abuja.

TheFact Daily reports that Bello was docked alongside Abba Adauda, Yakubu Siyaka Adabenege, Iyada Sadat and Rashida Bello (who is currently at large), on 18 count charge bordering on criminal misappropriation and money laundering to the tune of N3,081,804,654.00 (Three Billion, Eighty One Million, Eight Hundred and Four Thousand, Six Hundred and Fifty Four Naira).

A summary of the charges reveals that the defendants, sometime in June, 2020 in Abuja, procured E-Traders International Limited to retain the said aggregate sum, which they knew to be part of proceeds of unlawful activity to wit: criminal misappropriation, and thereby committed an offence contrary to sections 18(a), 15(20)(d) of the Money Laundering Prohibition Act, 2011 as amended and punishable under section 15 (3) of the same Act.

Furthermore, Ali Bello, Abba Adaudu and Rashida Bello (currently at large) in November, 2020, procured E-Traders International Limited to transfer the aggregate sum of $570,330 (Five Hundred and Seventy Thousand, Three Hundred and Thirty United States Dollars) to account number no; 426-6644272 domiciled in TD Bank, United States of America, in full knowledge that the said sum forms part of proceeds of unlawful activity to with: criminal misappropriation, and thereby committed an offence contrary to section 15(2)(d) of the Money Laundering Prohibition Act, 2011 as amended and punishable under section 15 (3) of the same Act.

The defendants pleaded “not guilty” to all the charges preferred against them, owing which, prosecuting Counsel, Rotimi Oyedepo, urged the court to give a trial date to enable the prosecution to prove its case.

However, Defence counsel, Ahmed Raji, prayed the court to grant his client bail pending the hearing and determination of the case.

Justice Egwuatu adjourned the case till 13 February, 2023, and ordered that the defendants be remanded in a Correctional Centre pending the determination of the bail application.

 

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