Breaking News: EFCC Nabs Suspect In N12.5m Oil Fraud, Legal Battle Begins

The Economic and Financial Crimes Commission’s Gombe Zonal Command has charged Festus Agbomodion before Justice A.M. Anka of the Federal High Court in Yola, Adamawa State…..CONTINUE READING

On Thursday,  Agbomodion  was charged with two counts related to the intent to defraud and the acquisition of obtaining money under false pretense totaling N12,500,000.00 (twelve million five hundred thousand naira only).

Count one reads: “That you Festus Agbomodion on or about 2nd of January, 2019 at Yola, Adamawa State, within the Jurisdiction of this Honorable Court, with intent to defraud did obtain the sum of N12,500,000 (Twelve Million, Five Hundred Thousand Naira only) from one Mr. Johnson Seun Femi under false pretence that the said sum was meant for the supply of two trucks of diesel to Bretrogeen Enterprises limited (A limited liability Company) which you knew to be false and hereby committed an offence contrary to Section 1 (1)(a) and punishable in Section 1(3) of Advance Fee Fraud and Other Related Offences Act, 2006.”

Another count read: “That you Festus Agbomodion and Okeke Magnus sometime on or about 2nd of January, 2019 at Yola, Adamawa State, within the Jurisdiction of this Honorable Court, did retain the sum of N12,500,000 (Twelve Million, Five Hundred Thousand Naira only) from one Mr. Johnson Seun Femi as money for the supply of two trucks of diesel to Bretrogeen Enterprises Limited (A limited liability Company) knowing or reasonably ought to have known that such fund formed part of a proceed of unlawful activity to wit, obtaining by false pretence and thereby committed an offense contrary to Section 15 (2)(d) and punishable in Section 15(3) of the Money Laundering Act, 2011.”

The Prosecution lawyer  M.O. Labran asked the court for a trial date in light of the defendant’s “not guilty” plea, while defense attorney S.O. Akporido advised the court of the defendant’s previous bail application.

Judge Anka then released the defendant on bail for five million naira, with an additional one million naira for one surety. The surety needs to reside in the defendant’s neighborhood and possess landed property there.

He was placed under remand in the Adamawa Correctional Centre by the judge until his bail requirements were fulfilled. The trial was postponed until February 29, 2024.