Appeal court sentences Senator Nwaoboshi to seven years imprisonment for money laundering

Appeal court sentences Senator Nwaoboshi to seven years imprisonment for money laundering

Senator Peter Nwaoboshi, who represents the Delta North Senatorial District in the National Assembly, and his two companies, Golden Touch Construction Project Ltd. and Suiming Electrical Ltd., were found guilty today, July 1, 2022, and sentenced to seven years in prison.

In accordance with Section 22 of the Money Laundering (Prohibition) Act, 2011 (as amended), the Court of Appeal further directed that the firms that were the second and third respondents in the appeal be wound up and that their assets be forfeited to the Federal Government of Nigeria.

The panel, which was made up of Justices Abdullahi Bayero, Obande Ogbuniya, and Peter Affen, concluded in their ruling that the trial court erred because the prosecution had successfully established its case against the respondents beyond a reasonable doubt. This decision overturned the earlier decision exonerating and clearing the respondents.

The Economic and Financial Crimes Commission had challenged the judgment of Justice Chukwujekwu Aneke of the Federal High Court which on June 18, 2021 discharged and acquitted the defendants of a two count charge of fraud and money laundering.

EFCC had arraigned the three defendants over the acquisition of a property named Guinea House, Marine Road, in Apapa, Lagos, for N805 million. Part of the money paid to the vendor, precisely a sum of N322 million transferred by Suiming Electrical Ltd on behalf of Nwaoboshi and Golden Touch Construction Project Ltd , was alleged to be part of proceeds of fraud.

But in his judgment, Justice Aneke held that the prosecution failed to call vital witnesses and tender concrete evidence to prove the elements of the offences for which it charged the defendants.

Justice Aneke said the evidence of PW2 “proved that the third defendant obtained a loan of N1.2 billion from Zenith Bank for purchase of additional equipment and as provision of working capital.

“It also proved that the loan of N1.2 billion together with interest of N24 million was properly granted to the third. Nothing else was proved by the complainant or prosecutor in this case,” the judge said

He claimed a fatal blow was dealt to the case of the prosecution by its failure to call officials of Sterling Bank “to testify and probably tender exhibits F and F10”. Consequently, he discharged and acquitted the defendants.

However ruling on the EFCC’s appeal today, the Court of Appeal held that the trial judge erred in dismissing the charges against the respondents. It said the prosecution had proved the ingredients of the offense and consequently found the defendants guilty as charged.

Stay Connected , follow us on: Facebook: @creebhillsdotcom, Twitter: @creebhillsblog, Instagram: @creebhills, Pinterest: @creebhills Telegram: creebhills

To place an advert/sponsored post on our site, contact us via [email protected]