N500m ‘fraud’: Ondo PDP chieftains’ case to resume January 8

A Federal High Court in Lagos yesterday adjourned till January 8 hearing in a N500 million fraud charge against two Ondo State chieftains of the Peoples Democratic Party (PDP), Clement Faboyede and Modupe Adetokunbo.

Justice Saliu Saidu fixed the date following an application by the defendants’ counsel seeking time to respond to a pending application by the Economic and Financial Crimes Commission (EFCC).

At the commencement of proceedings, EFCC lawyer George Chia-Yakua informed the court that this was a preliminary hearing of an objection challenging the court’s jurisdiction to hear the matter.

Chia-Yakua said, nevertheless, the prosecution was ready to proceed “subject to the court’s convenience”.

But defence lawyer Abubakar Shamsudeen said his office received a response to his preliminary objection from the prosecution last Friday.

Justice Saidu granted the defence’s prayer for an adjournment to enable him peruse the prosecution’s response and respond, where necessary.

Faboyede, Ondo State PDP Chairman and Modupe Adetokunbo, the Director-General of the party’s 2015 Campaign Organisation in the state, are facing charges of money laundering.

The EFCC arraigned both men on March 27, 2015, on a three-count charge bordering on money laundering.

It accused them of conspiring to accept cash payment amounting to N500 million, which exceeded the amount allowed by law, without going through any financial institution.

According to the prosecution, the offences contravene sections 16(2) and 18 of the Money Laundering (prohibition) Act, 2011 (as amended by Act No. 1 of 2012).

The defendants pleaded not guilty and the judge granted them bail for N50 million each.