N6.9bn Fraud: Fayose Arraigned, To Remain In EFCC Custody

Justice Mojisola Olatoregun of a Federal High Court, Lagos, Monday, ordered that the immediate past governor of Ekiti State, Mr. Peter Ayodele Fayose, be remanded in the custody of the Economic and Financial Crimes Commission (EFCC), till Wednesday, October 24, when his bail application would be argued.

Justice Olatoregun made the remand order after Fayose pleaded not guilty all eleven counts charge on the alleged fraud, brought against him by the EFCC.

Fayose alongside his company, Spotless Investment Nigeria Limited, and one Abiodun Agbele (not in court) were arraigned on the said fraud before the court.

He however, pleaded not guilty to the charges.

After his plea was taken, the prosecutor, Mr. Rotimi Oyedepo, pleaded with the court for a trial date, while also asked the court that Fayose be remanded pending the conclusion of trial.

Responding, Fayose’e counsel, Mr Kanu Agabi (SAN) former Attorney General of the Federation (AGF), while conceded to the trial date as requested by the prosecutor, informed the court that he had filed a motion for bail, and same has been served on the prosecution, and urged the court to hear the motion.

The prosecutor, Oyedepo, confirmed service of the bail application, but told the court that he needed time to reply respond.

Equally, Justice Olatoregun told the parties that the motion for Fayose’s bail is yet to be before the court.

Agagu (SAN) also pleaded with the court to remand his client, Fayose, in EFCC Custody, pending the hearing of the bail application.

Having listened to the submissions of both parties, Justice Olatoregun consequently, adjourned the case till Wednesday, October 24 for hearing of the bail application.

According to the charge marked FHC/L/353c/18, EFCC alleged that on June 17, 2014, Fayose and Agbele were said to have taken possession of the sum of N1.2 billion, for purposes of funding his gubernatorial election campaign in Ekiti State, which sum they reasonably ought to have known formed part of crime proceeds.

Fayose was alleged to have received a cash payment of the sum of five million dollars, (about N1.8 billion) from the then Minister of State for Defence, Sen. Musiliu Obanikoro, without going through any financial institution and which sum exceeded the amount allowed by law.

He was also alleged to have retained the sum of N300 million in his Zenith Bank account and took control of the aggregate sums of about N622 million which sum he ought to have known formed part of crime proceeds.

Fayose was alleged to have procured De Privateer Ltd and Still Earth Ltd, to retain in their Zenith and FCMB accounts, the aggregate sums of N851 million which they reasonably ought to have known formed part of crime proceeds.

Besides, the accused was alleged to have used the aggregate sums of about N1.6 billion to acquire properties in Lagos and Abuja, which sums he reasonably ought to have known formed part of crime proceeds.

The accused was also alleged to have used the sum of N200 million, to acquire a property in Abuja, in the name of his elder sister Moji Oladeji, which sum he ought to know also forms crime proceeds.

The offences contravenes the provisions of sections 15(1), 15 (2), 15 (3), 16(2)(b), 16 (d), and 18 (c) of the Money Laundering Prohibition Act 2011

This is the charge against Fayose

Count 1: hat you Mr. Ayodele Fayose and MR. Abiodun Agbele (now facing another charge) on or about 17th June, 2014 in Lagos, within the jurisdiction of this Honourable Court, took possession of the sum of N1, 219, 000, 000.00 (One Billion, Two Hundred and Nineteen Million Naira) to fund your 2014 gubernatorial campaign in Ekiti State, which sum you reasonably ought to have known formed part of the proceeds of an unlawful act, to wit: criminal breach of trust/stealing and you thereby committed an offence contrary to Section 15 (2) (d) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15 (3) and (4) of the same Act.

Count 2: That you Mr. Ayodele Fayose on or about 17th June, 2014 in Lagos, within the jurisdiction of this Honourable Court, without going through the financial institution received cash payment in the sum of $5, 000, 000 (Five Million Dollars) from Senator Musliu Obanikoro the then Minister of State for Defence, which sum exceeded the amount authorised by law and you thereby committed an offence contrary to Sections 1 and 16 (d) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 16 (2) (b) of the same Act.

Count 3: That you Mr. Ayodele Fayose on or about 7th April, 2015 in Lagos, within the jurisdiction of this Honourable Court, did retain in your fixed deposit account No: 9013074033 with Zenith Bank Plc, the sum of N300, 000, 000.00 (Three Hundred Million Naira) which sum you reasonably ought to have known formed part of proceeds of an unlawful act, to wit: criminal breach of trust/stealing and you thereby committed an offence contrary to Section 15 (2) (d) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15 (3) of the same Act.

Count 4: That you Mr. AYODELE FAYOSE and spotless Limited between 17th June, 2014 and 4th August, 2014 in Lagos, within the jurisdiction of this Honourable Court, took control of an aggregate sum of N317, 000, 000.00 (Three Hundred and Seventeen Million Naira) by depositing same into the Zenith Bank Plc’s Account No: 1010170969 belonging to spotless Investment Limited, a company controlled by you and members of your family and which sum you reasonably ought to have known formed part of proceeds of an unlawful act, to wit: criminal breach of trust/stealing and you thereby committed an offence contrary to Section 15 (2) (d) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15 (3) of the same Act.

Count 5: That you Mr. Ayodele Fayose between 26th June, 2014 and 27th August, 2014 in Lagos, within the jurisdiction of this Honourable Court, took control of an aggregate sum of N305, 760, 000.00 (Three Hundred and Five Million, Seven Hundred and Sixty Thousand Naira) in your Zenith Bank Account No: 1003126654 which sum you reasonably ought to have known formed part of proceeds of an unlawful act, to wit: criminal breach of trust/stealing and you thereby committed an offence contrary to Section 15 (2) (d) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15 (3) of the same Act.

Count 6: That you Mr. Ayodele Fayose between 18th June, 2014 and 23rd June, 2014 within the jurisdiction of this Honourable Court, did procure DE-PRIVATEER LIMITED and one Abiodun Agbele to retain in their Account No: 1013835889 domiciled with Zenith Bank Plc, Apapa branch, Lagos, an aggregate sum of N719, 490, 000.00 (Seven Hundred and Nineteen Million, Four Hundred and Ninety Thousand Naira) on your behalf, which sum formed parts of proceed of an unlawful act, to wit: criminal breach of trust/stealing and you thereby committed an offence contrary to Section 18 (c) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15 (3) of the same Act.

Count 7: That you Mr. Ayodele Fayose and Spotless Limited on or about 4th August, 2014, within the jurisdiction of this Honourable Court, did use the sum of N270, 000, 000.00 (Two Hundred and Seventy Million Naira) to acquire a property at Plot 1504, Yedsema Street, Maitama, Abuja from one RABI KUNDILI, which sum you reasonably ought to have known formed part of the proceeds of an unlawful act, to wit: criminal breach of trust/stealing and you thereby committed an offence contrary to Section 15 (2) (d) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15 (3) of the same Act.

Count 8: That you Mr. Ayodele Fayose between 12th November, 2014 and 20th August, 2015, within the jurisdiction of this Honourable Court, did use an aggregate sum of N1, 151, 711, 573 (One Billion, One Hundred and Fifty One Million, Seven Hundred and Eleven Thousand, Five hundred and Seventy Three Naira) to acquire chalets 3 and 4, 6 and 9 of the property situate at Plot 100 Tiamiyu Savage Street, Victoria Island, Lagos in the name of JJ Technical Service, which sum you reasonably ought to have known formed part of the proceeds of an unlawful act, to wit: criminal breach of trust/stealing and you thereby committed an offence contrary to Section 15 (2) (d) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15 (3) of the same Act.

Count 9: That you Mr. Ayodele Fayose between 23rd April, 2015 and 30th April, 2015 within the jurisdiction of this Honourable Court, did use an aggregate sum of N200, 000, 000.00 (Two Hundred Million Naira) to acquire a property known as No. 44, Osun Crescent, Maitama, Abuja in the name of Moji Oladeji (your elder sister), which sum you reasonably ought to have known formed part of the proceeds of an unlawful act, to wit: criminal breach of trust/stealing and you thereby committed an offence contrary to Section 15 (2) (d) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15 (3) of the same Act.

Count 10hat you Mr. Ayodele Fayose between 23rd April, 2015 and 30th April, 2015 within the jurisdiction of this Honourable Court, did use an aggregate sum of N270, 000, 000.00 (Two Hundred and Seventy Million Naira) to acquire a property known as Plot 1504 Yedseram Street, Maitama, Abuja in the name of Spotless Investment Limited, which sum you reasonably ought to have known formed part of the proceeds of an unlawful act, to wit: criminal breach of trust/stealing and you thereby committed an offence contrary to Section 15 (2) (d) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15 (3) of the same Act.

Count 11: That you Mr. Ayodele Fayose on or about 30th January, 2015 within the jurisdiction of this Honourable Court, did procure Stills Earth Limited to retain in its account with First City Monument Bank (FCMB), the sum of N132, 500, 000.00 (One Hundred and Thirty Two Million, Five Hundred Thousand Naira) for your benefit, which sum formed part of the proceeds of your unlawful activity, to wit: gratification which you received from SAMCHASE Nigeria Limited and you thereby committed an offence contrary to Section 18 (c) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15 (3) of the same Act.