The New Experience Newspapers Online News Indepth, Analysis and More
Justice Mojisola Dada of a Special Offences Court, Ikeja has ordered a Malaysian, Tan Ah Chai Richard to be remanded in prison custody over alleged £250,000,000 fraud.
Justice Dada ordered that he be remanded in prison custody after pleading ‘not guilty’ to a five-count charge brought against him and Coastal Asia Investment Limited by the Economic and Financial Crimes Commission (EFCC).
EFCC alleged that Richard, the company and one Dr. Sawang Jana, who is still at large, about September 27, 2018, attempted to obtain 250 million Euros by false pretense from Polaris Bank Limited, formerly Skye Bank Plc.
Their offence was contrary to sections 8 (1) b and 1 (3) of the Advance Fee Fraud and Other Fraud Related Offences Act of 2006.
After his arraignment, the defendant’s counsel, Mr. K.E Onifade, prayed the court to remand him in EFCC custody pending hearing of his bail application.
Justice Dada adjourned trial and hearing of bail application to June 3, 2019.