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Nairaland Forum / Nairaland / General / Politics / Babalakin Cleared By Courts Over N4.7b Fraud (498 Views)
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Babalakin Cleared By Courts Over N4.7b Fraud by nedu2000(m): 5:20am On Feb 24, 2015 |
http://www.premiumtimesng.com/news/top-news/177390-updated-after-years-of-trial-over-n4-7-billion-fraud-babalakin-cleared-by-court.html Wale Babalakin, the billionaire Chairman of Bi-Courtney Limited, walked out of the Ikeja High Court in Lagos, Monday, a free man after years of prosecution for an alleged N4.7 billion fraud by the Economic and Financial Crimes Commission, EFCC. Delivering his ruling, Justice Lateef Lawal-Akapo said the EFCC had failed to disclose enough information to sustain the allegations against Mr. Babalakin, and his co-defendants. “The amended information filed May 7, 2013, is incurably bad and defective,” the judge held. Mr. Babalakin, a Senior Advocate of Nigeria; Alex Okoh, a banker; and their companies Bi-Courtney Limited, Renix Nigeria Limited, and Stabilini Visioni Limited had been charged on a 27- count charge of fraud, conspiracy, and retention of proceeds of criminal conduct. The EFCC accused Mr. Babalakin of helping James Ibori, a former governor of Delta State who is now serving a jail term in the UK, to launder N4.7 billion state funds. The defendants were first arraigned in January 2013, after which began a series of court room dramas that culminated in their discharge. |
Re: Babalakin Cleared By Courts Over N4.7b Fraud by ABIOLAXYZ(m): 5:42am On Feb 24, 2015 |
For all this to stop vote ACPN. vote GALADIMA for president 2015 |
Re: Babalakin Cleared By Courts Over N4.7b Fraud by ellguapo: 5:45am On Feb 24, 2015 |
Which criminal isn't free in this regime of "how much did nwobodo steal" Sickening kleptomaniacs, your days are. Numbered GEJ and his bandits Vote Buhari/Osibanjo |
Re: Babalakin Cleared By Courts Over N4.7b Fraud by stinggy(m): 5:50am On Feb 24, 2015 |
ellguapo: Actually the Ph.D holder said "How much did Nwobodo stole" |
Re: Babalakin Cleared By Courts Over N4.7b Fraud by ellguapo: 6:04am On Feb 24, 2015 |
stinggy: Thanks jare |
Re: Babalakin Cleared By Courts Over N4.7b Fraud by nedu2000(m): 6:32am On Feb 24, 2015 |
If he didn't 'launder' the said amount,then who did?did the money come from the blues? That's why accountability should be the watch word,anyone that can't give account for monies in his power,should be pronounced guilty by default! |
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