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Home CRIME AND COURT

Foreigners Accused Of Defrauding Ecobank $42.4m Loses Bid To Quash Arrest Warrant/Extradition

The judge also held that the two applications lack merit and same are dismissed."

Newsroom Nigeria by Newsroom Nigeria
August 12, 2024
in CRIME AND COURT, JUDICIARY
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By Mike Ojo

A Federal High Court, sitting in Lagos on Monday has dismissed the applications filed by two Indian nationals, Prem Garg, Devashish Garg and a Briton, Marcus Wade, to quash a bench warrant issued for their arrest and extradition, issued against them on alleged of $42,485,900 million USD fraud, for lacking in merit

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The two Indians the Briton who is the Chairman of Wilben Trade Limited, Dubai, and their companies; Agrico Agbe Limited, Wilben Trade Limited, Dubai, are being charged before the court by the office of the Attorney-General of the Federation (AGF) for allegedly defraud Ecobank Plc of the sum of $ 42,485,900 million USD, with the pretence of using the of money to purchase and import into India parboiled rice Nigeria.

Counts one and four against the defendants in the charge marked FHC/L/562C/2022, dated October 7, 2022, reads, “that you, Prem Garg, Devashish Garg both of Indian nationality, Agrico Agbe Limited (a company registered in Nigeria), Wilben Trade Limited, Dubai (a company registered in the United Arab Emirates, Dubai), Marcus Wade (Chairman of Wilben Trade Ltd, Dubai) of British nationality, sometime in the month of May and September, 2015 at Ecobank Plc, Lagos within the Jurisdiction of this Honourable Court conspired between yourselves to commit an offence thereby committed an offence punishable under Section 422 of the Criminal Code Act, Cap C38 Laws of the Federation of Nigeria, 2004.

“That you, Prem Garg, Devashish Garg both of Indian nationality, Agrico Agbe Limited (a company registered in Nigeria), Wilben Trade Limited, Dubai (a company registered in the United Arab Emirates, Dubai), Marcus Wade (Chairman of Wilben Trade Ltd, Dubai) of British nationality, sometime in the month of May and September, 2015 at Eco Bank Plc. Lagos within the Jurisdiction of this Honourable Court conspired between yourselves to commit an offence to wit: Cheating in that you caused Ecobank Plc to deliver monies to the tune of $42, 485, 900. 00 (forty-Two Million, Four Hundred and Eight Five Thousand, Nine Hundred US Dollars) which was intended by contract for the purchase and import into Nigeria India Parboiled rice but never utilized the sum of money for the contract and thereby committed an offence punishable under Section 421 of the Criminal Code Act, Cap, C38 Laws of the Federation of Nigeria, 2004.”

However, while the charge is pending, the defendants did not appear in court to take their pleas on the charges. The development that made the office AGF, through its lawyer, Dr. Pius Ukeyima Akutah, now Executive Secretary/Chief Executive Officer (CEO) of Nigerian Shippers Council, to file applications before the court for issuance of bench warrant and possible extradition against them.

The application was granted by the justice Akintayo Aluko, sometimes in November 2023.

But the defendants, through their lawyers, Dele Belgore and Dr. Dada Awosika (both Senior Advocate of Nigeria), filed applications to quash the orders for their arrest and extradition.

The application was conspicuously countered by the AGF through its lawyer, Mrs. Kehinde Bode-Ayeni, who inherit the case file from Dr. Pius Akutah.

Justice Aluko in delivering his ruling said that the proceedings before Magistrate court in Delhi Indian can not operate as a stay in Criminal proceedings in Nigeria because its not purely a criminal proceedings, moreso it a proceedings in Nigerian court as constituted by the Nigerian constitution.

The second issue is that an order of status quo granted by another court can not viciate the criminal charge pending in this court. The position of the administration of criminal justice Act which regulate criminal proceedings in Nigeria have stipulated that the criminal and civil proceedings can be going simultaneously.

On the final note, Justice Aluko held that “there is no merit in the applications filed by the defendants.

The judge also held that the two applications lack merit and same are dismissed.”

Consequently, Justice Aluko the case to October 24, for report on bench warrant and further proceedings.

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