Court to Hear Alleged N13bn Fraud Suit against Stockbrokers on April 16

The trial of four stockbrokers, who were involved in an alleged N13 billion fraud, has been fixed for April 16, 2018.

The Economic and Financial Crimes Commission (EFCC) had arraigned the stockbrokers, Adeyemi Oluwaseun, Suleiman Yusuf Obhakume, Yusuf Imran Adekunle and Haruna Issah before Justice Josephine Oyefeso in November, 2017 for stealing the sum of N13 billion, property of First Marina Trust Limited.

They were arraigned on a seven-count amended charge of stealing the alleged sum, while in the employment of First Marina Trust Limited. The defendants had pleaded not guilty to the charges. Part of the amended charge before the court stated that "Adeyemi Oluwaseun, Suleiman Yusuf Obhakume, Yusuf Imran Adekunle and Haruna Issah on or about the 17th day of May, 2016 in Lagos within the jurisdiction of this Honourable Court, stole the sum of N237,250, 000, property of First Marina Trust Limited”.

"Adeyemi Oluwaseun, Suleiman Yusuf Obhakume, Yusuf Imran Adekunle and Haruna Issah, on or about 27th day of May, 2016 in Lagos within the jurisdiction of this Honourable Court stole the sum of N500,200,000, property of First Marina Trust Limited.”

The stockbrokers were also accused of ‘stealing the sum of N183,500,000, N180, 000,000, N186,000,000 and N14,749,000 respectively,’ all property of First Marina Trust Limited.

The prosecution counsel, Mr. Anselm Ozioko, had held that the offences are contrary to Section 285(1) and (8) of the Criminal Law of Lagos State, 2011.