EFCC Docks Man Over N3 million Fraud
LAGOS, May 24, (THEWILL) - The Economic and Financial Crimes Commission (EFCC) on Thursday arraigned one Gerald Ifeanyichukwu Mobougwu, 39, on a three-count charge of allegedly obtaining the sum of N3,239,314.84 from one Grace P. Enyeting under the pretence of running a finance company.
When the case came up before Justice Simeon Adah of the Federal High Court of Nigeria, Ikeja, the accused pleaded not guilty to all the three charges when they were read to him.
Justice Adah granted the accused bail in the sum of N5 million and one surety who must be a resident of Lagos State. The case was adjourned till 28th June 2012 for commencement of trial.
Trouble began for Mobouhwu in April 2009 when he advertised in his church magazine, The Voice of Communion, calling on the public to invest N1 million for 540 days and earn N1, 590,163.93k in return. He also claimed that some celebrities were among the directors of Accredited Bonds & Hedges Limited located at 30A, Taoridi Street, Off Babs Animashaun, Surulere, and Lagos.
Based on this advertisement which appeared in the magazine of Communion Church, Festac Town, Lagos, Grace O. Enyeting had no cause to doubt the credibility of the investment company since her church member, (Gerald) was the supposed managing director of the company.
Oblivious of the fact that Gerald only used the advert to lure church members into investing in the company, Enyeting invested over N3 million into the company only to discover that she had been duped.
Count 1 of the charges read, “That you, Gerald Ifeanyichukwu Mobougwu, and Accredited Bonds & Hedges Limited, between June and December 2009 in Lagos, within the jurisdiction of this Honourable Court, carried on financial business to wit: collecting deposits from Mrs. Grade Patrick Enyeting to the tune of N3,200,000 and other sums of money from various other members of the public, through Accounts No. 2392030003397 with First Bank of Nigeria Plc and No. 00051223500454 with Diamond Bank Plc without a valid license from Central Bank of Nigeria and thereby committed an offence contrary to Section 58 (1) of Banks and other Financial Institutions Act, Cap. B3, Laws of the Federal of Nigeria, 2004 but punishable under Section 59 (6) (a) (b) of the same Act.”
Count two read, “That you, Gerald Ifeanyichukwu Mobougwu, and Accredited Bonds & Hedges Limited in 2009 in Lagos, within the jurisdiction of this Honourable Court whereas you are neither banks nor persons authorised by law to take deposits, issued advertisement in a magazine titled, The voice of communion, published by Communion Church, Festac Town, Lagos, inviting the public to deposit money with you by way of investment in your business venture and thereby committed an offence contrary to Section 44 (1) but punishable under section 44 (2) of Banks and Other Financial Institutes Act, Cap. B3, Laws of the Federation of Nigeria, 2004.”