Alleged N806m fraud: Court remands Sen Nwaoboshi

AFederal Court yesterday ordered that Senator Peter Nwaoboshi, representing Delta North Senatorial District, should be remanded in Ikoyi Prisons till tomorrow when ruling will be delivered on his bail application. High

Justice Mohammed Idris handed down the remand order after hearing his bail application on alleged N806 million fraud.

The Economic and Financial Crimes Commission (EFCC) had arraigned the senator alongside his two companies before the court on charges of fraud.

Nwaoboshi’s companies arraigned with him were Golden Touch Construction Projects Limited and Summing Electricals Limited.

In the charge, the EFCC alleged that the senator and his companies had between May and June 2014 conspired and acquired a property described as Guinea House, Marine Road, Apapa-Lagos for N806 million in a manner that was unlawful.

The EFCC also alleged that the senator’s company, Summing Electricals Limited, had on or about May 14, 2014, aided him, his company, Golden Touch Construction Project Limited, to commit money laundering offence.

The accused pleaded not guilty to the charges, and his lawyer, Dr. Azinge (SAN), told the court that they had filed a bail application.

Upon resumption for the hearing of the application, Justice Idris ordered that the senator be remanded in Ikoyi Prisons till tomorrow when ruling would be delivered on the bail application.