$9.6B Fraud: EFCC Re-arraigns Trinity Biotech For Money Laundering

The Economic and Financial Crimes Commission, EFCC, on Friday, December 2, 2022, re-arraigned Trinity Biotech Nigeria Limited, one of the over thirty companies associated with $9.6b Process and Industrial Development, P&ID, fraud, before Justice D.U. Okorowo of the Federal High Court Abuja on a six count amended charge bordering on money laundering. Also charged along with the company are its directors, James Nolan (at large), Adam Quinn (at large) and Gerrard Nash, with the alias Gerry Nash (also at large).

One of the counts reads; “That you, Trinity Biotech Nigeria Limited, being a Designated Non-financial institution; James Nolan(at large), Adam Quinn(at large), and Gerrard Nash, alias Gerry Nash(at large), being the controlling minds and management of Trinity Biotech Nigeria Limited, sometime in January 2014, in Abuja within the Abuja Judicial Division of the Federal High Court, failed to comply with the requirements of submitting to the Federal Ministry of Industry, Trade and Investment, a declaration of the activities of Trinity Biotech Nigeria Limited contrary to Section 16(1)(f) read together with section 5(1)(a)(ii) of the Money Laundering (Prohibition) Act, 2011(as amended) and you thereby committed an offence punishable under Section 16(2)(b) of the same Act.”

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After a “Not guilty “plea was entered for the defendant, prosecution counsel Bala Sanga asked the court for a date for trial to commence.

Justice Okorowo adjourned the matter till 10th and 11th January, 2023 for the commencement of trial.