EFCC declares Vaswani brothers wanted over N3billion rice duty fraud.

Yusuf Alli, Managing Editor, Northern Operation and Dele Anofi, Abuja.

The Chairman of the Economic and Financial Crimes Commission, Mrs. Farida Waziri, yesterday declared the Vaswani brothers wanted over a N3billion rice duty scam.

Waziri, who made the declaration at a sudden briefing in Abuja said the three wanted Vaswani brothers-Sunil, Mahesh, and Haresh- had escaped to Europe and Dubai .

She, however, claimed that five others, suspected to be either members of the Vaswani family or workers, had been arrested by the commission.

Mrs. Waziri said: “The EFCC is investigating Stallion Group of Companies and the Vaswani Brothers, who are the owners of the company. The Vaswani Brothers have been engaging in activities that are inimical to the economy.

“Recently, they defrauded the Federal Government of Nigeria of the sum of N3billion through one of their business outfits. The fraud was perpetrated through under payment of customs duties while importing rice into the country.

“We have effected some arrest; five people are in our custody. But the Vaswanis brothers had left the country before we moved in. They are now between Europe and Dubai .”

Responding to a question, Waziri said: “Yes, the Vaswani Brothers are wanted in connection with this N3billion fraud.”

She gave insight into the activities of the Vaswani bothers and their intermittent cases with the commission.

She said: “The Company, the Stallion Group, has been d doing business in Nigeria and the scope of their business involved commodities and sales of automobiles. In 2003, the commission investigated the company and this led to the deportation of the Vaswani brothers by the Federal Government.

“However their companies were allowed to carry on business in Nigeria . In 2007, they were allowed back into Nigeria after several appeals. However, recent investigations of the activities of the company and its owners show clearly that they have continuously and consistently perfected the art of underpayment of custom duties due to the Federal Government of Nigeria.

“The commission will continue to investigate the other facets of the criminal activities of this company and its owners.”

Asked if the crime committed by the Vaswani Brothers had anything to do with importation of rice by the Federal Government, Waziri added: “This is not part of the FG’s imported rice, it is their own importation. The underpayment of customs duties came to us by way of intelligence report.

“They imported six cargo loads of rice and before we moved in, the rice had been disposed off. There was nothing in their warehouse. We have a warehouse which is empty. I was told by an insider that they sold out the rice on the spot because they already had the market.”

On the alleged collusion of some officers of the Nigeria Customs Service with the Vaswanis, Waziri said: “As I told you, there is always collusion within but whosoever is involved will be dealt with.”

She denied allegation of witch-hunting the Vaswanis explaining that “if they are doing legitimate business, we have no cause to go after them.

“I was not here when they were deported for the first time in 2003. Normally, when you investigate, people can say anything. They alleged witch-hunt and that the EFCC is on the side of Nigerian businessmen. But we are not out to witch-hunt anyone but we won’t watch and allow some people to destroy the economy of Nigeria .”

The EFCC chairman seized the opportunity to warn foreign nationals Nigeria against indulging in economic sabotage.

She added: “However, the commission is concerned about the activities of foreign nationals in Nigeria . While Nigeria is prepared and ready to accept foreign investors and businessmen, it is disturbing that this has been continuously abused.

“The commission is concerned about the role that foreign nationals have assumed in sabotaging the economy with its resultant effect of the crash of the Naira against the dollar.

“The commission has witnessed in the recent past several cases of foreign businessmen engaging in all forms of economic sabotage.

“Apart from the Stallion Group, there has been the case of a foreign national (Patrick Fernandez) who engaged in cheque kitting and fraudulent banking activities that led to losses of over N17billion for Nigerian banks. Some of these money we found out were wired outside the country.

“Further in the aviation case that the commission investigated, a foreign national (George Eider) prominently featured in the N19billion Aviation Fund saga. Recently too, we have had to charge to court and secured the conviction of 13 nationals of Philippines for oil bunkering in the Niger Delta.

“Again, we have investigated and are currently prosecuting cases of oil bunkering against six Ghanaians and their Nigerian accomplices.

“The commission therefore warns all individuals and entities, whether foreign nationals or citizens of Nigeria , who engaged in any adverse economic activity, that it will deal decisively with such cases. The negative effect of these kinds of activities impacts on our collective survival as Nigerians.

“We wish to assure you that the commission is more determined than before to ensure that the laws of the land are brought to bear on those whose trade is to create wealth for themselves by committing all forms of economic and financial crimes. We shall not stand by and watch the economic stability of the country being sacrificed on the altar of greed.”

ENDS

Who are really the Vaswani brothers?

Hahaha good.

those notorious brothers again. why were they even allowed back into this country in the first place. after 5 years they will be back again.