Connect with us

crime

Breaking: EFCC Takes Action Against Ex-Minister Charles Ugwuh In N3.6bn Fraud Probe

Published

3 years ago

on

efcc

Operatives of the Lagos Zonal Command of the Economic and Financial Crimes Commission, EFCC, have arrested a former Minister of Commerce and Industry, Charles Chukwuemeka Ugwuh, for an alleged conspiracy and fraud to the tune of N3.6bn….CONTINUE READING

 

 

download 19

 

Advertisement

A statement by EFCC’s Spokesman, Mr. Dele Oyewale made available to Vanguard on Monday, said Ugwuh was arrested alongside Chief Geoffrey Ekenma at No.2, Musa Yar Adua Way, New Owerri, Imo State, following a petition to the Commission from a new generation bank on the alleged fraud perpetrated through a company, Ebony Agro Industries Ltd., linked to the ex-Minister.

Investigations revealed that Ugwuh and Ekenma, Managing Director, Ebony Agro Industries Ltd., allegedly obtained a loan facility from the bank for the purchase and production of polished rice.

However, the suspect, according to the petitioner, failed to meet up his obligations to the bank and all efforts to get him to repay the loan facility proved abortive.

“The suspects would be charged to court as soon as investigations are concluded,” EFCC said on Monday.

Advertisement
Related Topics:
Advertisement
Click to comment
Subscribe
Notify of
guest
0 Comments
Oldest
Newest Most Voted

Trending

0
Would love your thoughts, please comment.x
()
x