• Latest
  • Trending
JUST IN: Court jails Senator seven years for money laundering

JUST IN: Court jails Senator seven years for money laundering

7 months ago
Adelabu condoles with Oyo residents over Chief Imam’s death

Adelabu condoles with Oyo residents over Chief Imam’s death

9 hours ago
Osun guber poll: After being deregistered by INEC, AD asks members, supporters to vote Oyetola

APC: Osun tribunal judgement represents victory for democracy, rule of law

14 hours ago
Why North won’t accept second position in 2023- Northern elders

Northern Elders warn against plan to interfere with elections, want review of CBN leadership

14 hours ago
Osun guber poll: After being deregistered by INEC, AD asks members, supporters to vote Oyetola

Folarin hails Osun tribunal judgement, congratulates Oyetola, APC

17 hours ago
Improper service stalls Adeleke’s suit challenging nullification as PDP governorship candidate

‘It’s miscarriage of justice’- Adeleke rejects tribunal verdict, heads to Appeal Court

18 hours ago
INEC announces date for mock accreditation of voters

INEC announces date for mock accreditation of voters

18 hours ago
CBN deadline: First Bank opens Saturday, Sunday to receive old naira notes

CBN deadline: First Bank opens Saturday, Sunday to receive old naira notes

19 hours ago
Osun guber poll: After being deregistered by INEC, AD asks members, supporters to vote Oyetola

BREAKING: Tribunal sacks Adeleke as Osun governor, declares Oyetola winner

19 hours ago
Nasarawa governor loses eldest son

Nasarawa governor loses eldest son

19 hours ago
Mike Bamiloye knocks Nollywood actors for romancing, kissing on movie sets

Mike Bamiloye knocks Nollywood actors for romancing, kissing on movie sets

19 hours ago
NCC CEO bags award for exemplary leadership in public service

Danbatta bags Vanguard’s Regulator of the Year Award

20 hours ago
Akeredolu to FG: Denying Amotekun arms while allowing equivalent in Katsina to bear weapons dangerous

Senator, Akeredolu’s aide trade words over Ondo factory sale

23 hours ago
It’ll be shameful for northern APC governors to work against Tinubu- Nasarawa gov

It’ll be shameful for northern APC governors to work against Tinubu- Nasarawa gov

1 day ago
#EndSARS: 1,993 inmates escaped from Edo custodial facilities, says FG

FG: 159 Nigerians renounce citizenship in 2022

2 days ago
Again, ICPC arrests ex-JAMB Registrar, Ojerinde

Again, ICPC arrests ex-JAMB Registrar, Ojerinde

2 days ago
Senator: Direct primary was Gbajabiamila’s idea to favour someone

Naira redesign: Gbajabiamila threatens Emefiele with arrest

2 days ago
Never again shall 16 years of nothingness come back- Tinubu hits PDP

Tinubu to Atiku: You can’t pitch me against Buhari

2 days ago
Fire guts four-storey building at Balogun market, destroys goods worth millions of naira

Fire guts four-storey building at Balogun market, destroys goods worth millions of naira

2 days ago
  • Contact Us
  • Advertise
Saturday, January 28, 2023
Newspeakonline
  • Home
  • Politics
  • Business
  • Entertainment
  • Technology
  • World
    • Africa
    • Americas
    • Asia
    • Europe
  • Opinion
  • Interview
  • Newspeak ExclusivesNew
No Result
View All Result
  • Home
  • Politics
  • Business
  • Entertainment
  • Technology
  • World
    • Africa
    • Americas
    • Asia
    • Europe
  • Opinion
  • Interview
  • Newspeak ExclusivesNew
No Result
View All Result
Newspeak
UBA
Home News

JUST IN: Court jails Senator seven years for money laundering

newspeak by newspeak
July 1, 2022
in News
Reading Time: 2 mins read
271 5
0
JUST IN: Court jails Senator seven years for money laundering
Share on FacebookShare on TwitterShare on WhatsAppShare on Telegram

Akinwande Soji-Ojo

RelatedPosts

Senator, Akeredolu’s aide trade words over Ondo factory sale

JUST IN: Keyamo sues EFCC, ICPC, CCB, demands Atiku’s prosecution

ASUU may drag FG to court over withheld salaries

The Lagos Division of the Court of Appeal has convicted and sentenced Senator Peter Nwaoboshi, lawmaker representing Delta North Senatorial District at the National Assembly, to seven years imprisonment.

In a judgment delivered on Friday, the court ordered that Nwaoboshi’s two companies, Golden Touch Construction Project Ltd and Suiming Electrical Ltd, be wound up in line with the provisions of Section 22 of the Money Laundering Prohibition Act 2021.

The Appellate Court’s ruling followed the success of the appeal by the Economic and Financial Crimes Commission (EFCC) challenging the judgement of Justice Chukwujekwu Aneke of the Federal High Court, which has on June 18, 2021, discharged and acquitted the defendants on a two count charge of fraud and money laundering.

EFCC had arraigned the three defendants over the acquisition of a property named Guinea House, Marine Road, Apapa, Lagos, for N805 million.

Part of the money paid to the vendor, according to the anti-graft agency, precisely a sum of N322 million transferred by Suiming Electrical Ltd on behalf of Nwaoboshi and Golden Touch Construction Project Ltd, was alleged to be part of the proceeds of fraud.

But in his judgment, Justice Aneke held that the prosecution failed to call vital witnesses and tender concrete evidence to prove the elements of the offences for which it charged the defendants.

Justice Aneke said the evidence of PW2 “proved that the third defendant obtained a loan of N1.2 billion from Zenith Bank for purchase of additional equipment and as the provision of working capital.

“It also proved that the loan of N1.2 billion together with interest of N24 million was properly granted to the third. Nothing else was proved by the complainant or prosecutor in this case.”

He claimed a fatal blow was dealt the case of the prosecution by its failure to call officials of Sterling Bank “to testify and probably tender exhibits F and F10.”

Consequently, he discharged and acquitted the defendants.

However, ruling on the EFCC’s appeal on Friday, the Court of Appeal held that the trial judge erred in dismissing the charges against the respondents. It said the prosecution had proved the ingredients of the offence and consequently found the defendants guilty as charged.

Related

What’s your Reaction?
Like
Like
0
Dislike
Dislike
0
Laugh
Laugh
0
Angry
Angry
0
Sad
Sad
0
Accurate
Accurate
0
0 Shares
Facebook Twitter WhatsApp Linkedin Messenger
×

Share this post!

Facebook Twitter WhatsApp Linkedin Messenger Telegram Tumblr
Tags: CourtEFCCPeter NwaoboshiSenator

Recent Posts

Adelabu condoles with Oyo residents over Chief Imam’s death

Adelabu condoles with Oyo residents over Chief Imam’s death

January 27, 2023
Why North won’t accept second position in 2023- Northern elders

Northern Elders warn against plan to interfere with elections, want review of CBN leadership

January 27, 2023
INEC announces date for mock accreditation of voters

INEC announces date for mock accreditation of voters

January 27, 2023
Nasarawa governor loses eldest son

Nasarawa governor loses eldest son

January 27, 2023
NCC CEO bags award for exemplary leadership in public service

Danbatta bags Vanguard’s Regulator of the Year Award

January 27, 2023
Akeredolu to FG: Denying Amotekun arms while allowing equivalent in Katsina to bear weapons dangerous

Senator, Akeredolu’s aide trade words over Ondo factory sale

January 27, 2023
#EndSARS: 1,993 inmates escaped from Edo custodial facilities, says FG

FG: 159 Nigerians renounce citizenship in 2022

January 26, 2023
Again, ICPC arrests ex-JAMB Registrar, Ojerinde

Again, ICPC arrests ex-JAMB Registrar, Ojerinde

January 26, 2023
Next Post
Police apologise to Owo residents over church attack, vow to arrest perpetrators

'Expressing one’s Christian faith has become death sentence'-US Senators ask govt to redesignate Nigeria religious freedom violator

Leave a Reply Cancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Newspeakonline

© 2020 Newspeak & Associates
Optimized by IChannelTech.

Navigate Site

  • Breaking News
  • Business
  • Entertainment
  • Interview
  • Newpeak Magazine
  • Newspeak Exclusives
  • Politics

Follow Us

No Result
View All Result
  • Home
  • Latest News
  • Politics
  • Business
  • Entertainment
  • Technology
  • World
  • Opinion
  • Interview
  • Newspeak Exclusives

© 2020 Newspeak & Associates
Optimized by IChannelTech.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Newspeak We would like to show you notifications for the latest news and updates.
Dismiss
Allow Notifications