Alleged N3.4bn Fraud: EFCC Re-Arrests Suspect Outside Court Premises
The Economic and Financial Crimes Commission (EFCC) has rearrested Friday Audu, the Nigerian mastermind behind the activities of 193 foreigners and several others arrested in Dec. 2024 in one fell swoop for offences bordering on Cryptocurrency Investment Fraud and Romance Scam.
In a mild drama, Audu was rearrested by officials of the anti-graft agency as he stepped outside the premises of the Federal High Court, Ikoyi, Lagos shortly after he was granted bail on Thursday.
The officials led him to a waiting white van and swiftly whisked away while his co-defendants were led away by correctional officers.
The three defendants, Huang Haoyu, Friday Audu, An Hongxu and their company Genting International Ltd are standing trial before the court on a 12-count charge of alleged cybercrime.
They had been arraigned before the court on Monday, March 17 and returned to the court today for the hearing of the bail applications for two of them. The third defendant was yet to file his bail application.
Audu, who was alleged to have been the kingpin behind the recruiting of several young Nigerians for the organised crime syndicate was granted bail in the sum of N50m with two sureties.
Justice Daniel Osiagor in his bench ruling shortly after hearing the bail applications also held that one of the sureties must be a serving director and the second, any citizen with developed property within the Lagos Metropolis who will surrender his title documents to the court.
The two sureties are to provide their full passport photographs as well as the last date of promotion of the Director to the Deputy Court Registrar, DCR who is to verify these documents.
Pending the perfection of the bail conditions, the court ordered that Audu will be remanded at the correctional services alongside the other defendants who were not granted bail.
While Audu was granted bail, his Chinese counterpart, the first defendant, Huang Haoyu who allegedly joined him to recruit the young Nigerians for their nefarious activities was not granted bail.
In his case, the court held that even though he deposed to an affidavit stating that he is a member of the Chinese Business Community, the nature and status of his residence in Nigeria was not revealed, and no materials were placed before the judge to guarantee his presence in court for his trial. The judge agreed with the EFCC that he was a flight risk.
A third defendant, another Chinese, An Hongxu had no bail application and the court ordered the remand of both men.
Justice Osiagor has adjourned to May 2, 2025, for trial.
In one of the counts, the EFCC alleged, “That HUANG HAOYU A.K.A KEN, AUDU FRIDAY, AN HONGXU, DULIANG PAN (AT LARGE) AND GENTING INTERNATIONAL CO. LIMITED sometime in 2024 in Lagos conspired to wilfuly cause to be accessed, computer systems organised to seriously destabilize the economic and social structure of Nigeria (which prohibits and prevents cyber and related crimes, with intent to gain a financial advantage for yourselves and cronies procured and or employed Nigerian youths to falsely represent themselves as persons of foreign nationalities, and thereby committed an offence contrary to Section 27 of the Cybercrimes (Prohibition, Prevention, Etc) Act, 2015 (As Amended, 2024) and punishable under Section 18 of the same Act.”
At their arraignment on Monday, March 17, they each, pleaded not guilty to the charge.
The prosecutor, Mrs Bilikisu Buhari, urged the court to remand the defendants and order an accelerated trial of their case.
The EFCC also alleged that the defendants conspired to commit the offence with one Dualiang Pan, who is now at large, to willfully cause to be assessed, computer systems, organised to destabilise Nigeria’s economic structure.
The defendants were also alleged to have procured Nigerian youths, to falsely represent themselves as persons of foreign nationalities.
They were also alleged to have procured one Chukwuemeka Okeke, to retain the sum of 1.2 million dollars in his crypto wallet, which sum they ought to know forms part of fraudulent activities.
They also allegedly procured one Alhassan Garba and Ifesinachi Jacobs, to retain the sum of 1.3 million dollars in their crypto wallet, being proceeds of crime.
The monies totalling about N3.4bn were allegedly retained in the Union Bank account of Genting International Ltd, a sum which also forms part of the proceeds of their fraudulent activities.
The prosecutor alleged that they transferred among others, the sums of N106 million, and N913 million, to Dualiang’s UBA account, which also forms proceeds of their fraudulent activities.
The transfer, as well as several other transfers, were said to be made from Genting Ltd.
Besides, the defendants were said to have illegally negotiated a foreign exchange transaction with one Alhassan Garba, to the dollar equivalent of N1.1 billion, N962 million, as well as other sums.
EFCC alleged that they engaged in this foreign exchange, without going through the official foreign exchange market authorised by the Central Bank of Nigeria.
All monies are said to have formed part of the proceeds of their fraudulent activities.
The offences contravene the provisions of Section 29(2) of the Foreign Exchange Monitoring and Miscellaneous Provisions Act, 2004.
It also contravenes the provisions of sections 18 and 27 of the Cybercrime (Prohibition) Act 2015, as well as Section 18(2)(d) and 21(c) of the Money Laundering Act 2021.
The judge adjourned the case until today, March 20, for hearing of the defendants’ bail application.
He ordered the defendants to be remanded in EFCC’s custody pending bail.
The prosecution counsel, Bilikisu Buhari-Bala had argued that the defendants were a flight risk as they were the employers who recruited several young Nigerians.
She urged the court to refuse their bail and instead order an accelerated trial
But counsel to the first defendant, Emeka Okpoko, SAN, persuaded the court to admit his client to bail on the most liberal terms and conditions.
Counsel to the 2nd defendant, Clement Onwuenwunor (SAN) had also urged the court to grant bail to his client on liberal terms.
