BREAKING: Court Sentence Popular Senator to 7 years Imprisonment

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Court Sentence Popular Senator to 7 years Imprisonment

The Delta North Senatorial District’s Peter Nwaoboshi was found guilty and given a seven-year prison sentence by the Lagos Division of the Court of Appeal on Friday.

The court also mandated that the senator’s two businesses, . and ., be dissolved in accordance with Section 22 of the Money Laundering Prohibition Act 2021.

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According to the Economic and Financial Crimes Commission, the Federal High Court’s judgement by Justice Chukwujekwu Aneke, which on June 18, 2021, discharged and acquitted the defendants on two counts of fraud and money laundering, was challenged in an appeal. The court’s decision was then delivered in that appeal, the commission said.

The three defendants were charged by the EFCC with buying Guinea House, Marine Road in Apapa, Lagos, for N805 million.

It was claimed that N322 million, which Suiming Electrical Ltd transferred to the vendor on behalf of Nwaoboshi and Golden Touch Construction Project Ltd, was a portion of the proceeds of fraud.

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The prosecutor’s evidence “proved that the third defendant obtained a loan of N1.2 billion from Zenith Bank for the purchase of additional equipment and as provision of working capital,” Justice Aneke wrote earlier in his decision.

“It also demonstrated that the third party was properly granted a loan for N1.2 billion plus N24 million in interest. Nothing else in this case was established by the complainant or the prosecutor, according to a statement from the judge that was made public by the EFCC.

The high court judge was also quoted as saying that the prosecution’s failure to call Sterling Bank officials to testify and “probably tender exhibits F and F10” dealt the prosecution’s case a fatal blow. As a result, he released and exonerated the defendants.

The Court of Appeal, in its Friday decision on the EFCC’s appeal, found that the trial judge erred in dismissing the charges against the respondents.

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The defendants were found guilty as charged because “the court said the prosecution had proven the ingredients of the offence,” according to the EFCC.

That is the latest Naija News Today on Court Sentence Popular Senator to 7 years Imprisonment

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