Alleged $18m Fraud: Court Fixes June 25 For Arraignment Of Equinox Oil And Gas MD, Director, Others, As AGF Takes Over Prosecution

Alleged $18m Fraud: Court Fixes June 25 For Arraignment Of Equinox Oil And Gas MD, Director, Others, As AGF Takes Over Prosecution

Justice Suleiman Belgore of the High Court of the Federal Capital Territory has fixed June 25 for the arraignment of Equinox Oil And Gas Limited managing director and chief executive officer, Alhaji Mohammed Asibelua, his director, Aliyu Maccido and others.

Also during the court’s sitting, the Attorney General of the Federation and Minister of Justice (AGF), Prince Lateef Fagbemi (SAN) took over the case involving alleged $18m fraud.

Other defendants in the four-count charge marked CR/252/2021 are Equinox Exploration Ltd; Equinox Realtors Limited; Equinox Oil & Gas Limited and Equinox Group Limited.

Although the matter came up on Wednesday for the arraignment of the defendants before a High court of the Federal Capital Territory (FCT), Garki, a lawyer from the office of the AGF, Aderonke Imana informed the court that the AGF has taken over the prosecution of the case in exercise of his powers as provided in section 174 of the 1999 constitution (as amended).

Imana who further told the court that she did not know the whereabouts of the defendants, lamented that the police had in the last four years frustrated the efforts of the AGF from taking over the case, by refusing to forward the case file to his office.

She therefore asked the court for a short adjournment to enable the AGF take further steps.

“This matter is slated for arraignment, however, I have been directed by the AGF to take over this case pursuant to his powers under section 174 of the 1999 constitution and by the authority in State V Ibori,” she told the court
Responding, counsel to the defendants, Dr. Michael Ngidi said he was not objecting to the taking over of the case by the AGF, but that he has filed a motion challenging the jurisdiction of the court entertain the case
On his part, Eze Kennedy watching the brief of the nominal complainant, did not object to the taking over the matter by the AGF

Meanwhile, Justice Belgore has adjourned the case to June 25, for arraignment.

The defendants were charged by the Inspector General of Police for allegedly defrauding Guarantee Trust Bank to the tune of $18m dollars.
The charge signed by Simon Lough reads:
“That you Alhaji Mohammed Asibelua ‘M’ adult, of No: 3 Osumeyi River Close Maitama, Abuja, MD/CEO of Equinox Exploration Ltd, Equinox Realtors Ltd, Equinox Oil and Gas Ltd and Equinox Group Ltd, Aliyu Maccido ‘M’ 51 years of No. 6 Oguda Close Maitama Abuja, Director of Equinox Exploration Limited, Equinox Group Limited of plot 523, Usuma Close Maitama, Abuja; Equinox Exploration Ltd of No 6 Usuma Close Maitama Abuja; Equinox Realtors Ltd and Equinox Oil and Gas Ltd of No. 5 Oguda close Maitama, between 18th December, 2006 and 30th May 2007, in Abuja, within the jurisdiction of the court, while acting in concert and with intent to defraud Guaranty Trust Bank PLC, conspired together to commit felony to wit: obtaining money by false pretence and you thereby committed an offence contrary to section 8(a) of the Advance Fee Fraud and other related offences Act, 2006.
That the defendants had between 1st December 2006 and 31st May 2007 in Abuja, within the jurisdiction of the court while acting in concert and with intent defraud GTB PLC, deceitfully collected the sum of $5, 500.000.00, $2, 000.000; $3,150, 000.00, $7, 500, 000.00 performance bond in favour of British Gas Exploration and Production Nig. Ltd as loans and secured the said loans with the following:
(a) Tripartite legal mortgage over landed properties located in Maitama, No: 34 Cadestral zone A6 Maitama and plot 28/29 Cadestral zone A6 Maitama, Abuja (b) Tripartite legal mortgage over a property located at No:3 Minister Hills, Colorado close Maitama, Abuja, with an estimated value of N510m. (c) All asset debenture over the company’s assets (d) Letter of undertaking to route $1.3m through it’s account with the bank on a quarterly basis, (e) Counter Indemnity of Equinox Oil and Gas Limited in favour of the bank and (f) Personal Guarantee of the CEO Alhaji Mohammed Asibelua.
The prosecution alleged that,”however having collected the money you surreptitiously requested for the original title document of the property located at No:3 Colorado close, Maitama Abuja, used collateral on the pretence that you will proceed with the project and for AGIS to issue a new Certificate of Occupancy for the extension of the plot behind and having received the title document from GTB Plc, you used same to obtain another loan of N1,125, 000.00 from Aso Savings and Loans Plc. You thereby committed an offence contrary to section 1(1) and punishable under section 1(3) of the Advance Fee Fraud and other related offences Act 2006.