Man Arraigned For Alleged Saving Of Stolen Funds

Man Arraigned For Alleged Saving Of Stolen Funds

For allegedly warehoused the sum of N17, 514,500 million, parts of N128 million, said to have been obtained by fraudulent means, one Adeniran Nurudeen Abiodun, has been arraigned before a Lagos Federal High Court, by the men of Police Special Fraud Unit (PSFU) Ikoyi, Lagos.

Adeniran was arraigned before Justice Chukwujekwu Joseph Aneke led-court on charges bordering on conspiracy to commit felony to wit money laundering and concealment of fraudulent funds.

PSFU in a charge marked FHC/L/245c/2020, alleged the the defendant and others now at large, conspired among themselves and laundered the sum of N128 million, between the month of February 2016 and September 2018.

Adeniran was also alleged to have warehoused the sum of N17,514,500 million, in his current account domiciled in one of the new generation banks, being proceeds of crimes, on behalf of one Ayo Boladuro, who is now at large.

PSFU’s prosecutor, Justin Enang, had told the court that the offences are contrary to sections 18(a) and 17 of the Money Laundry (Prohibition) Act, 2011 (as amended in 2012). 

The defendant pleaded not guilty to the allegations.

Following his plea of not guilty, the prosecutor, Mr. Enang, asked the court for a trial date. He also urged the court to remand the defendant in the PSFU’s custody, pending the hearing and determination of his bail application.

Consequently, Justice Aneke, while pronounced that the defendant be kept in PSFU’s custody, pending the hearing and determination of his bail application as required by the prosecutor, adjourned the matter till November 26, for commencement of trial.

Count one of the charges against the defendant reads: “that you Adeniran Nurudeen Abiodun ’m’ and others at large, between the month of February, 2016 and September, 2018 in Lagos State within the Jurisdiction of the Federal High Court, did conspire amongst yourselves to commit felony to wit: money laundering to the tune of One Hundred and Twenty-Eight Million Naira (N128, 000, 000) and thereby committed an offence punishable under Section 18(a) of the Money Laundry (Prohibition) Act, 2011 (as amended in 2012)”.

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