Petrostar, 3 Others For Arraignment Over Alleged Conversion Of Access Bank’s Funds
A Lagos Federal High Court, has fixe till June 14, 2022, for the Arraignment of a local oil company, Petrostar Nigeria Limited and three of it’s directors, over allegations of conversion of funds belonging to Access Bank Plc.
The three directors to be arraigned alongside the petroleum company are: Elias Daaboul; Tony Daaboul and Naji Kordahi.
The Federal government through the office of the Attorney-General of the Federation (AGF) had dragged the oil company and its directors before the court through its lawyer, Dr. Akutah U. Pius, a State Chief Counsel, in a three count-charge marked FHC/L/406c/2019.
The Charges against the defendants reads: “Statement of the offence: conspiracy to effect an unlawful purpose contrary to section 518 of the criminal code.
PARTICULAR OF OFFENCE: Petrostar Nigeria Limited, Elias Daaboul, Tony Daaboul and Naji Kordahi sometime between the year 2016 and 2019 conspired to effect an unlawful purpose to wit: breach of contract,stealing and fraudulent disposal of trusted property.
“Statement of offence: stealing, contrary to section 383 of the criminal code and punishable under section 390 of the Criminal code.
PARTICULAR OF OFFENCE: Petrostar Nigeria Limited, Elias Daaboul, Tony Daaboul and Naji Kordahi, sometimes between the year 2016 and 2019 fraudulently took and sold petroleum products financed and owned by Access Bank Plc under Credit Agreement and Tripartite Warehousing Agreement and converted the proceeds from the sale of the said petroleum products to their own use contrary to the terms of the credit and tripartite warehousing Agreement.
“Statement of offence: fraudulent disposal of trust property contrary to section 434 of the Criminal code
PARTICULAR OF OFFENCE: Petrostar Nigeria Limited, Elias Daaboul, Tony Daaboul and Naji Kordahi, sometime between the year 2016 and 2019 while being entrusted with petroleum products financed and owned by Access Bank Plc, under a Credit Agreement and Tripartite Warehousing Agreement, with intent to defraud, converted the said petroleum products and proceeds from its sale to uses not authorized by the trust confered on them by the terms of the credit and tripartite warehousing Agreement.”
The defendants have never appeared in court since the charge was filed on November 13, 2019.
When the matter was mentioned, both the defendants and the prosecutor were not in court, consequently, the presiding Judge, Justice Daniel Osiagor, while adjoining till June 14, 2022, for the arraignment of the defendants, ordered that hearing notices should be issued on them.