Justice O. M. Anyachebelu of the Anambra State High Court, Awka has convicted and sentenced the Managing Director of Orient Petroleum Resources Plc, Nnaemeka Nwawka, and the Registered Trustees of Sage Nebefeife Foundation to 14 years imprisonment each for fraud involving N25 billion.
The defendants were convicted by the court on a 10-count charge bordering on stealing, fraudulent conversion, and gratification.
The court held that between April and December 2012, the convicts fraudulently converted N82.8 million transferred from Vhelbherg International Limited’s account with Standard Chartered Bank into the account of Sage Nebefeife Foundation domiciled in First Bank.
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In another count, the court found that between January and May 2013, they converted an additional N29.6 million transferred from the same company’s account into the foundation’s account for personal use.
The defendants had pleaded not guilty to the charges, prompting the Economic and Financial Crimes Commission (EFCC), through its counsel, Victor Ukagwu, to proceed to full trial.
The trial, which lasted 10 years, saw the EFCC call four witnesses and tender several documentary exhibits marked P1 to P24.
Evidence before the court showed that Nwawka facilitated the award of contracts from Orient Petroleum Resources Plc to companies linked to his associates.
(Eagles Online)
