Court Orders Interim Forfeiture of Properties Worth Millions Amid Massive Fraud Allegations at First Marina Trust
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| First Marina Trust Ltd |
In a significant development following allegations of staggering fraud amounting to over $2.780 million USD and £500,000.00 BPS at First Marina Trust Limited, Justice Kehinde Olayiwola Ogundare of a Lagos Federal High Court has ordered the interim forfeiture of multiple properties, vehicles, and a substantial sum of money totaling N24,106,760.15 million.
The court's directive stems from a motion exparte marked FHC/L/CS/30/2024, filed and moved by the Economic and Financial Crimes Commission (EFCC) lawyer, Nnaemeka Omewa. The motion, supported by an affidavit deposed to by Investigating Officer Afanda Emmanuel Bashir, detailed the elaborate schemes allegedly perpetrated by employees of First Marina Trust Ltd.
According to the affidavit, the investigation uncovered a complex web of fraudulent activities involving employees Adeyemi Oluwaseun and Suleiman Yusuf Obhakume. The duo, entrusted with managing clients' accounts, purportedly colluded to siphon funds from the company, forging email addresses and initiating unauthorized transactions totaling $2.780 million USD and £500,000.00 BPS.
The forfeited properties include fourteen houses, a Mikano generator, and three cars, distributed across various locations in Lagos and Ogun States. Additionally, the court ordered the seizure of funds warehoused in Zenith Bank, Access Bank, and Polaris Bank, held under the account names of Isaac Abdul Johnson.
In his ruling, Justice Ogundare emphasized the urgency and gravity of the allegations, directing the EFCC to publish the interim orders in a national newspaper. The publication serves as a notice to interested parties or respondents to appear before the court within 14 days and show cause why the properties should not be permanently forfeited to the Federal Government of Nigeria.
The judge adjourned the matter to March 19 for the final forfeiture proceedings, underscoring the need for a thorough examination of the evidence presented by the EFCC.
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The developments underscore the relentless efforts of law enforcement agencies to combat financial crimes and hold perpetrators accountable. As the investigation unfolds, the court proceedings serve as a beacon of hope for justice and restitution for victims of fraudulent activities, reaffirming the commitment to upholding the rule of law and preserving the integrity of Nigeria's financial systems.
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