The Economic and Financial Crimes Commission (EFCC), on Wednesday, arraigned Ufoma Joseph Immanuel for an alleged $1.5 million fraud.
The anti-graft agency, in a statement posted on its Facebook page on Wednesday, said Mr Immanuel was arraigned before Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos.
The EFCC said Mr Immanuel, alongside his company, Intermediate Investment Holdings Ltd., was arraigned on a two-count charge bordering on obtaining by false pretence and forgery.
In one of the counts, EFCC stated that “Ufoma Joseph Immanuel and Intermediate Investment holdings Limited between April 2022 and October 2023 in Lagos, within the jurisdiction of this Honourable Court, with intent to defraud, induced Adebisi Adebut of R28 Holdings Limited to deposit the total sum of $1, 500, 000.00 as investment described as to wit: “Cash and or Capital Cost in Chappal Petroleum Development Company Limited; Business Development Cost in Intermediate Investment Holdings Limited: Capital and or Capital Call in Chappal Energies Mauritius Limited.
“On the understanding that R28 Holdings Limited will be: (a) reimbursed the investment amount, (b) paid a Development Capital fee of $2 250,000.00. (c) 22.4 per cent worth of shares in Intermediate Investment Holdings Limited, whose representation you knew to be false.”
Another count alleged that “Ufoma Joseph Immanuel, sometime between April 2022 and April 2025 in Lagos, within the jurisdiction of this Honourable Court, with intent to defraud, forged a document to wit: TERM SHEET and purporting same to have been executed by Sherrif Oluwo and Olaniran Osotuyi in order to facilitate your obtaining money by inducement from Adebisi Adebutu of R28 Holdings Limited.”
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The defendant pleaded “not guilty” to the charges preferred against him, according to the statement.
In view of this, prosecution counsel, Babatunde Sonoiki, asked the court to fix a date for trial and also prayed the court to remand the defendant in the custody of the International Criminal Police Organisation (INTERPOL), pending the conclusion of its investigation.
He stated that the defendant was brought to court for the purpose of his arraignment on Wednesday, noting that the defendant would be remanded at the appropriate correctional centre upon conclusion of investigations by INTERPOL.
Justice Dada adjourned the case till 7 May for ruling.
The court also ordered that the defendant be remanded in the custody of INTERPOL pending the conclusion of investigations, after which he would be remanded in a correctional centre pending the hearing of his bail application.
