UPDATE: Court finds Olisa Metuh guilty of N400m fraud
The Federal High Court in Abuja, on Tuesday, found former National Publicity Secretary of the Peoples Democratic Party, Olisah Metuh, and his firm, Destra Investments Limited, guilty of the first of the seven counts instituted against them by EFCC
Ruling on the first count in his judgement, Justice Okon Abang ruled that former National Security Adviser, Sambo Dasuki, unlawfully transferred the sum of N400 million to Metuh in November 2014.
Justice Abang ruled that Metuh and his firm reasonably ought to have known that the sum of N400 million paid to them formed part of the proceeds of the unlawful activity of the ex-NSA because they had no form of a contractual relationship with the ONSA.
According to the judge, Dasuki transferred the money to the defendants “in breach of public trust”.
He dismissed the contention of the defence who argued that the defendants could not be convicted for the money laundering offence because Dasuki, who is currently being prosecuted, had yet to be convicted for the predicate offence of breach of trust and corruption.
The judge said, contrary to the argument, “the predicate offence and the money laundering offence are intertwined”.
“The success or failure of the predicate offence does not determine the success or failures of the money laundering offence,” the judge added.
More updates will follow…
Justice Okon Abang of the Federal High Court sitting in Abuja is presently delivering judgement in the suit instituted against a former National Publicity Secretary of the Peoples Democratic Party (PDP), Mr. Olisa Metuh by the Economic and Financial Crimes Commission (EFCC).
EFCC had accused the former PDP spokesman of money laundering to the tune of N400,000,000 alongside his company, Destra investment.
They are charged with seven counts bordering on criminal diversion of the money received from the office of the former National Security Adviser, Colonel Sambo Dasuki (rtd).
EFCC also accused Metuh of money laundering to the tune of $2 million, alleging that Metuh carried out the said cash movement without going through a financial institution.
Stay tuned for the details…