Ex-SMEDAN boss Masari faces fresh 22 charges for alleged N119m money laundering

The Economic and Financial Crimes Commission (EFCC) has re-arraigned Bature Umar Masari, the previous Director Normal of the Small and Medium Enterprises Growth Company of Nigeria (SMEDAN), on 22 new fees of alleged cash laundering and receipt of unlawful gratifications totaling N119 million.

The arraignment occurred earlier than Justice O.A. Egwuatu on the Federal Excessive Courtroom in Maitama, Abuja. In response to an EFCC assertion signed by its Head of Media and Publicity, Dele Oyewale, Masari is particularly accused of laundering N119,507,080 and receiving substantial gratifications.

Through the court docket session, prosecution counsel Ekele Iheanacho introduced the amended fees, initially dated Could 13, 2013, and filed on Could 17, 2019. Masari pleaded “not responsible” to all counts.

Rely 19 alleges that Masari used N10,000,000 obtained in his Diamond Checking account from Rahuse Ventures Restricted between June 27, 2014, and July 17, 2014, absolutely conscious that the funds have been proceeds of illegal actions.

Rely 20 entails one other N10,000,000 obtained between July 14, 2014, and July 21, 2014. Each counts cite violations of the Cash Laundering Prohibition Act of 2011, as amended in 2012.

Following Masari’s plea, Iheanacho utilized for a trial date, whereas protection counsel Okechukwu Edeze requested that Masari proceed on bail granted by Justice Okong Abang in Could 2019.

Iheanacho didn’t oppose the bail continuation however urged the court docket to verify the provision of the sureties. Justice Egwuatu allowed Masari to stay on bail below his counsel’s supervision and adjourned the case to July 16, 2024, for trial graduation.

Masari, initially arraigned on April 10, 2019, on a 17-count cost, has confronted expanded allegations as a result of further proof introduced ahead by the EFCC. The costs relate to violations of Part 15(2)(b) of the Cash Laundering Prohibition Act 2011, as amended in 2012.

In a separate case, the Impartial Corrupt Practices and Different Associated Offences Fee (ICPC) arraigned Masari in September 2018 earlier than an FCT Excessive Courtroom in Apo, Abuja. He confronted 27 counts associated to cash laundering and embezzlement, together with the fraudulent award of constituency mission contracts price N184.5 million with out due course of.

Moreover, Masari was accused of receiving N50 million from a contractor on November 27, 2014, and distributing a part of the sum to others, contravening Part 10 of the Corrupt Practices and Different Associated Offences Act 2000.

By RemmyTex

Remmytex is a blogger, promoter, entrepreneur and and a businessman. Call or send a Whatsapp message for more information on +2349075664854 or you can email remmytexblog1@gmail.com

Leave a Reply

Your email address will not be published. Required fields are marked *