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EFCC accuses ex-FCT minister’s son of N1.1bn fraud

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Wsj
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Joined: Fri Apr 15, 2016 8:31 pm

EFCC accuses ex-FCT minister’s son of N1.1bn fraud

Unread postby Wsj » Wed Feb 01, 2017 8:12 am

The Economic and Financial Crimes Commission has accused Shamsudeen Bala Mohammed, the son of the immediate past Minister of the Federal Capital Territory, Bala Mohammed, of an alleged fraud to the tune of N1,105,719,005.

The EFCC also preferred 15 charges against the minister’s son and four other companies.



Our correspondent, who sighted the charge sheet on Tuesday, observed that the suspect and four other companies – Bird Trust Argo Limited, Intertrans Global Logistics Limited, Diakin Telecommunications Limited and Bal-Vac Mining Nigeria Limited – were accused of money laundering and falsification of assets.

Barring any last-minute changes, the accused will be arraigned before a Federal High Court in Abuja on Wednesday (today).

The EFCC accused the minister’s son of carrying out business transactions worth billions of naira in cash, which is in violation of the Money Laundering Act.

One of the charges reads in part, “That you, Shamsudeen Bala (alias Shamsudeen Mohammed Bala), Bird Trust Agro Allied Ltd and Intertrans Global Logistics Ltd, sometime in 2015, in Abuja, within the jurisdiction of this honourable court, did, without going through a financial institution, make cash payment of N200,000,000 to A&K Constructions Limited, Abuja, and Sunrise Estate Development Limited for Construction of a house on Plot nos 2116 and 2276 at Asokoro Gardens (alias Sunrise Estate), Abuja, which exceeded the statutory limit and thereby committed an offence contrary to Section 1 of the Money Laundering (Prohibition) Act, 2011 as amended in 2012 and punishable under Section 16 (2)(b) and (4) of the same Act.”

Another charge reads, “That you, Shamsudeen Bala, sometime in 2015, in Abuja, within the jurisdiction of this honourable court, did, without going through a financial institution, make cash payment of the sum of N200,000,000 only to Faruk Saleh at Abuja as payment for the purchase of House 2A, No 7 Gana Street, Maitama, Abuja, which exceeded the statutory limit and thereby committed an offence contrary to Section 1 of the Money Laundering (Prohibition) Act, 2011 (as amended by Act No 1of 2012) and punishable under Section 16(2)(b) and (4) of the same Act.”

The commission also accused Shamsudeen of failing to declare his assets when he completed the EFCC Asset Declaration Form A.

The suspect allegedly concealed four of his accounts domiciled at Standard Chartered Bank.

The accounts were given as 0001857597, 5001214708, 0000895037 and 000895020.

The PUNCH had reported on December 14, 2016, that the EFCC had seized at least 12 properties from Shamsudeen and his father.

The seizures were part of investigations into a controversial land swap deal carried out by the minister to the tune of N1tn between 2010 and 2015.

Prices of lands in Abuja are among the highest in Africa, especially in highbrow areas such as Wuse II, Asokoro and Maitama.

The minister is also expected to be charged before an FCT High Court soon.


Credit:Punch
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vanhealn
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Re: EFCC accuses ex-FCT minister’s son of N1.1bn fraud

Unread postby vanhealn » Mon Sep 03, 2018 10:35 pm

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vanhealn
Posts: 44612
Joined: Mon Jul 30, 2018 1:42 pm

Re: EFCC accuses ex-FCT minister’s son of N1.1bn fraud

Unread postby vanhealn » Thu Sep 13, 2018 12:44 pm

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