Alleged N1.3bn Fraud: Ibru, 3 Others Charged By EFCC

BEVERLY HILLS, August 02, (THEWILL) –  The Economic and Financial Crimes Commission (EFCC) has charged one of the Ibru brothers, Mr. Goodie Ibru, and three companies before a Lagos High Court over an alleged N1.3 billion fraud.

According to the charge sheet before Justice Raliatu Adebiyi, Mr. Ibru, Associated Ventures International Limited, IHL Services Limited and Clearview Investment Limited between 2010 and 2015 conspired to fraudulent steal monies belonging to Ikeja Hotels Plc, where he previously served as Chairman.

The EFCC in the 11-count charge alleged that Ibru and the three companies between January and December 2010 conspired to steal and fraudulently converted N867, 700,900 property of Ikeja Hotels Plc, owners of Sheraton Hotels and Federal Palace Hotel, Lagos.

In addition, EFCC alleged that between June and October 2010, within Lagos judicial division, Ibru and the corporate organisations conspired together to fraudulently convert the sum of N55.1 million, property of Ikeja Hotels, to personal use.

The prosecution alleged further that the accused persons used another company, Sherwood Limited as conduct pipe to fraudulently siphon N55 million from Ikeja Hotels.

The four defendants were also alleged to have fraudulently received a sum of £10,075 through Sherwood Nigeria Limited, as profit due to Ikeja Hotel Plc.