BREAKING: Court Finds Metuh And His Company Guilty Of N400m Fraud


A former National Publicity Secretary of the Peoples Democratic Party, Olisah Metuh, and his firm, Destra Investments Limited have been convicted by the Federal High Court in Abuja, on Tuesday after he was found guilty of first of the seven counts instituted against him and his company by the Economic and Financial Crimes Commission.

Ruling on the first count in his judgement, Justice Okon Abang ruled that a former National Security Adviser, Sambo Dasuki, unlawfully transferred the sum of N400 million to the defendants in November 2014.

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According to Punch, the judge ruled that Metuh and his firm reasonably ought to have known that the sum of N400 million paid to them formed part of the proceeds of the unlawful activity of the ex-NSA because they had no form of a contractual relationship with the ONSA.

The judge noted that Dasuki transferred the money to the defendants “in breach of public trust”.

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He dismissed the contention of the defence who argued that the defendants could not be convicted for the money laundering offence because Dasuki, who is currently being prosecuted, had yet to be convicted for the predicate offence of breach of trust and corruption.

The judge said, contrary to the argument, “the predicate offence and the money laundering offence are intertwined”.

“The success or failure of the predicate offence does not determine the success or failures of the money laundering offence,” the judge added.

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After finding the defendants guilty of the first count, the judge is analysing the evidence tendered in respect of the second count.

More updates later…

The post BREAKING: Court Finds Metuh And His Company Guilty Of N400m Fraud appeared first on Naijaloaded | Nigeria's Most Visited Music & Entertainment Website.

Source: News update


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