EFCC arraigns TStv MD, executive director on money laundering charge

The Economic and Financial Crimes Commission (EFCC), connected Thursday, arraigned Bright Echefu, Managing Director and Chief Executive Officer (MD/CEO) of Telecom Satellites Limited (TStv) and 3 others connected nine-count wealth laundering charge.

Others arraigned alongside Echefu earlier Justice Inyang Ekwo of a Federal High Court, Abua see the Executive Director of TStv, Felix Igboanuga; TStv and Briechberg Investment Ltd arsenic 2nd to 4th defendants respectively.

They, however, pleaded not blameworthy to each the counts.

Upon their non-guilty plea, EFCC’s counsel, Tahir Sylvanus, SAN, prayed for an bid remanding Echefu and Igboanuga successful a correctional centre pending the proceeding and determination of the case.

Sylvanus hinged his exertion connected the grounds that it took astir a twelvemonth aft filing the complaint earlier the defendants could beryllium arraigned.

The lawyer, who said Echefu and Igboanuga were formation risk, alleged that the duo refused to crook up for arraignment aft being admitted to adminstrative bail and the complaint filed connected June 9, 2023.

He, therefore, asked for a speedy proceedings of the matter.

But Eyitayo Fatogun, SAN, who appeared for the defendants, informed the tribunal that bail exertion had been filed connected his clients’ behalf successful October 2023.

He urged the tribunal to admit them to bail, pledging that the defendants were acceptable to basal their trial.

But Sylvanus disagreed with Fatogun.

The prosecution lawyer said a antagonistic affidavit was filed connected Oct. 16, 2023 successful absorption to their bail plea.

He said though the tribunal had a discretionary powerfulness to assistance bail, the antecedent of the defendants had proven that they were formation risk.

Justice Ekwo past asked if the defendants were earlier granted administrative bail and Sylvanus responded successful affirmative.

The justice consequently admitted Echefu and Igboanuga connected the presumption of the administrative bail earlier granted by the anti-graft agency.

He ordered the defendants to deposit their planetary passports with the tribunal registrar and not to question extracurricular the tribunal jurisdcition without the anterior permission of the court.

Justice Ekwo, however, threatened to revoke their bail if they failed to amusement up successful tribunal for their trial.

The judge, who adjourned the substance until June 15, June 16 and June 17 for proceedings commencement, threatened that Echefu and Igboanuga would stay successful remand until their proceedings lasted if their bail is revoked.

The News Agency of Nigeria (NAN) reports that the defendants were alleged to have, connected oregon astir May 18, 2020, committed the wealth laundering offence, including taxation evasion, unremitted Value Added Tax (VAT) and Company Income Tax and Pay As You Eam (PAYE) deducted from the salaries of 165 staff.

The offence is said to beryllium contrary to the Money Laundering (Prohibition) Act, 2011 (as amended successful 2012) and punishable nether Section 15(3) and (4) of the aforesaid Act.

In number five, Echefu, being the MD of Briechberg Investment Ltd connected oregon astir May 18, 2020 successful Abuja, with intent to defraud, was alleged to person obtained the sum of N150 cardinal from Mr Turaki Kabiru Tanimu, SAN, MD of Kalsiyam Farm.

In number six, Echefu was besides alleged to person defrauded Mr Tanimu, MD of Kalsiyam Global and besides erstwhile Minister of Special Duties and Inter-Governmental Affairs, the sum of N380 million.

The monies were said to person been paid into Briechberg Investment Lid relationship number: 1015561485 domiciled with Zenith Bank Pic nether the mendacious pretence of representing indebtedness beforehand to Telcom Satellite for the intent of enhancing the acquisition of modern technology.

Echefu was alleged to person misappropriated and converted the said monies to his idiosyncratic use, among different counts.

The offence is contrary to Section 1 (1) (a) (b) of the Advance Fee Fraud and different Fraud Related Offences, Act, 2006 and punishable nether Section 1(3) of the aforesaid Act.