EFCC arraigns 3 suspected impostors for N141.7m securities scam

The Economic and Financial Crimes Commission, EFCC, on
Monday July 7, 2014 arraigned three suspects: Mohammed
Rabiu (65 centre), Raphael Olorunfemi Okomoda (50 - left)
and Adegbesan Theophilus (38 -right); before Justice Lawal
Akapo of a Lagos High Court sitting in Ikeja on different
criminal counts, all bordering on conspiracy, obtaining
money by false presence, stealing, impersonation, forgery,
using false document and money laundering. While Lawan
was charged with 19-counts, Okomoda and Theophilus
were charged with 7-counts each.

The defendants got into trouble, when they were arrested
by operatives of the Commission, following a report of
fraudulent sale of shares of two deceased shareholders
who had shares in several blue chip companies including,
Agip Nigeria Limited, Total Oil, Union Bank Nigeria Plc,
Nestle Nigeria Plc, Mobil Oil Nigeria Plc, Unilever Nigeria Plc
and Nigeria Breweries Plc.

The stocks originally belonged to Alhaji Shande Ako
Dzungwe and Alhaji Isa Koto (both deceased) but were
fraudulently claimed, converted and sold by the three
defendants. Lawan allegedly forged identity cards, drivers
licenses; school certificates and international passports of
both Dzungwe and Koto, to perfect the scam.

The total value of shares converted and sold by the three
defendants was N141,652,951( One Hundred and Forty
One Million, Six Hundred and Fifty Two Thousand, Nine
Hundred and Fifty One Naira)

In view of their plea, prosecuting counsel, Fadike Giwa,
prayed the court for a trial date and the remand of
the defendants in prison custody. Giwa informed the court
that she had filed a 22-paragraph counter-affidavit and a
written address urging the court to deny the defendants
bail in favour of accelerated hearing of the suit.

Counsel to the three defendants, J. H. Bashir, informed the
court of his bail application and a written address, urging
the court to grant the defendants bail. He specifically
prayed the court to admit the defendants to bail "owing to
their fragile health condition," but Giwa countered that the
EFCC had been taking good care of the medical needs of
the defendants.

Justice Akapo, after listening to both counsel, adjourned
the case till July 8, 2014 for ruling on bail applications and
ordered that the defendants be remanded in Kirikiri
Maximum Prison, Lagos.

One of the charge reads: "Mohammed Rabiu Lawan (alias
Shande Ako Dzungwe), Raphael Olorunfemi Okomoda,
Adegbesan Theophilus and others (still at large) on or
about the 16th day of May, 2013 at Lagos within the Ikeja
Judicial Division with intent to defraud, conspired to obtain
the sum of N11, 493,137.83 (Eleven Million, Four Hundred
and Ninety Three Thousand, One Hundred and Thirty
Seven Naira, Eighty Six Kobo) property of late Shande
Ako Dzungwe".

Another count read: "Mohammed Rabiu Lawan (alias Isa
Koto) on or about the 16th of May, 2013 at Lagos within
the Ikeja Judicial Division with intent to defraud posed as
Alhaji Isa Koto and fraudulently instructed Fidelity Security
Limited to sell 216,625 units of Guinness Plc shares valued
at N44,092,048 (Forty Four Million, Ninety Two Thousand
and Forty Eight Naira) and transferred the proceeds into a
Fidelity Bank account you opened in the name of the said
Alhaji Isa Koto and withdrew same".

Wilson Uwujaren
Head, Media & Publicity
7th July, 2014