EFCC arrests man for alleged N525m fraud in Lagos
One Philemon Ibrahim Gora has been arrested by the Economic and Financial Crimes Commission, Lagos Zonal Office, for offences bordering on obtaining money by false pretence, stealing, issuance of dud cheque and money laundering to the tune of N525,000,000.00( Five Hundred and Twenty-five Million Naira) in Lagos.
The suspect, through one of his front companies, Gracious Environ Workers and Planners Nigeria Limited, allegedly obtained the sum of N525m from a traditional ruler, Kabiyesi Jacob Esan of Ijesa, Osun State and owner of Liberitas Plc, with the assurance of converting it to the United Arab Emirate, UAE, Dirham for him.
He, however, reneged on the agreement upon receipt of the money.
According to the EFCC, Investigation revealed that the suspect allegedly transferred the money to his various accounts as well as to some Bureau De Change operators, who have confirmed giving the suspect the Dollar equivalent of the money in cash.
It was further alleged that the suspect, through another of his front companies, N-PAS Nigeria Limited, deposited 41 Sterling Bank cheques of N10m each, totaling N410,000,000 in favour of the complainant’s company, Liberitas.
But the cheques were returned unpaid due to insufficient funds.
The suspect will soon be charged to court.