Court Jails Two In Onitsha Over N39.5M Fraud

Justice Victoria Nwoye of the Anambra State High Court, sitting in Onitsha has convicted and sentenced the duo of Ikechukwu Obiekwe and Ugo Chukwudi to prison for fraud.

They were prosecuted by the Enugu Zonal Directorate of the Economic and Financial Crimes Commission, EFCC on 10-count charges bordering on conspiracy, fraudulent conversion, stealing and retention of proceeds of crime to the tune of N39, 528, 530 (Thirty-nine million, Five Hundred and Twenty-eight Thousand, Five Hundred and Thirty Naira).

Count two of the charge reads: “That you, Ikechukwu Obiekwe, between 2016 to 2018 in Onitsha within the jurisdiction of this Honourable Court, with intent to permanently deprive the owner of his money, fraudulently converted to your own use, the sum of N18, 145, 530. 00 (Eighteen Million, One Hundred and Forty-five thousand, Five Hundred and Thirty Naira) being money belonging to Rainbow Hair International Company Limited and thereby committed an offence contrary to Section 342 of CAP 30, Criminal Code Law of Anambra State and punishable under Section 353 (6) of the same Law”.

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Count three reads: “That you, Ugo Chukwudi between 2016 to 2018 in Onitsha within the jurisdiction of this Honourable Court transferred the sum of N5, 399, 000 (Five Million, Three Hundred and Ninety-nine Thousand Naira) to account number 0012766443 domiciled in Stanbic IBTC Bank Plc belonging to Emma Ogonna Obiekwe, a nominee of one Ikechukwu Obiekwe when you know or reasonably ought to know that the said money was stolen by the said Ikechukwu Obiekwe and therefore formed part of proceed of crime and thereby committed an offence contrary to Section 17 (A) of the EFCC Act 2004 and punishable under Section 17 (B) of the same Act.”

In the course of the trial, prosecution counsel, Mainforce Adaka Ekwu presented six witnesses and tendered several documents in evidence.

Justice Nwoye in her judgment on July 9, 2024, held that the prosecution proved its case beyond reasonable doubt and sentenced both men to one year imprisonment each without an option of fine. In addition, he ordered that the sum of N39, 528, 530 (Thirty-nine million, Five Hundred and Twenty-eight Thousand, Five Hundred and Thirty Naira), being the proceeds of their crime be forfeited by the convicts to their victim.

The convicts’ journey to jail began on May 19, 2019 when the victim through a petition to the Commission alleged that Obiekwe, who was his apprentice, diverted the sum of N39, 528, 530 (Thirty-nine million, Five Hundred and Twenty-eight Thousand, Five Hundred and Thirty Naira) from the company’s sales account and when confronted he denied and absconded. Upon investigation by the Commission, it was discovered that Obiekwe used Chukwudi to divert the said sum to different accounts.

The convicts were arraigned in December 2019.