Alleged N2.9bn fraud: Court Fixes New Date for Trial of Kenneth Amadi

Alleged N2.9bn fraud: Court Fixes New Date for Trial of Kenneth Amadi

Further hearing in the N2.9 billion fraud, allegedly perpetrated by a businessman, Kenneth Ndubuisi Amadi, ABD Energy Solutions boss, before Justice Lewis Allagoa of a Federal High Court sitting in Ikoyi, Lagos, earlier scheduled to hold on Thursday, November 11, has been adjourned at the behest of the court to November 19, 2021.

Amadi is facing a five-count charge of conspiracy and fraud to the tune of N2.9 billion.

It would be recalled that Amadi, alongside his firm, IDID Nigeria Limited, were earlier charged before the court presided over by Justice Mohammed Liman, sometime in February 2021, by the office of the Attorney-General of the Federation, (AGF), on the said charges.

Justice Liman had fixed April 21, for commencement of the trial but that could not hold due to the JUSUN strike coupled with the transfer of the judge to another Jurisdiction of the court.

Specifically, the AGF in the charge filed against the businessman had alleged that Amadi had received by false pretence and with an intent to defraud, obtained the sum of N2.9 billion, belonging to Eunisell Limited, from A-Z Petroleum Limited and Ammasco International Limited; making full and true entry thereof in the books and accounts; suppression of data in respect of the financial transfer to Eunisell Limited; and converting the same amount without authority to create sufficient deposits to promote the credibility of his own company (IDID Nigeria Limited.

The offences according to the prosecution are contrary to section 1(1) (a) of the Advance Fee Fraud and other fraud related Offences Act, Cap. A6, Laws of the Federation of Nigeria, 2004; Section 1(2) (c) of the Miscellaneous Offences Act, Cap M17, Laws of the Federation of Nigeria, 2004; Section 14(1) of Cybercrimes (Prohibition, Prevention, Etc.) Act 2015 and Section 434 of the Criminal Code Act, Cap. C38 Laws of the Federation of Nigeria 2004, and punishable under section 1(3) of the same Act.

Upon the reading of the charge to the businessman, he denied the allegations and pleaded not guilty.
During the last hearing on the criminal charge, Justice Lewis Allagoa was informed of how the former employee of Eunisell Limited (Amadi), allegedly defrauded the company of the sum of N2. 9 billion, whilst working with the company as the Chief Executive Officer, CEO.

The Managing Director, Eunisell Limited, Chika Ikenga, while testifying before the Judge had recounted the perfidy of the 1st defendant, Kenneth Ndubuisi Amadi, who formed a parallel company, ABD Energy Solutions, doing the same business as his employer, Eunisell, and giving insider information to their competitors.

Amadi was also alleged to have intercepted N2.9bn payments due to Eunisell and diverted the funds to promote the business of his company, IDID Ltd. He did this, by allegedly forging the invoices of Eunisell and presenting the same to customers of Eunisell including A-Z and Ammasco International.

The witness had further informed the court that the two customers; A-Z Petroleum Limited and Ammasco International Limited wrote the Police and confirmed that Eunisell supplied them chemicals but the then CEO, Kenneth Amadi gave them his company’s accounts to pay into.

Mr Ikenga, while being led by the prosecutor, Mrs Ronke Imona, told the court how Kenneth fraudulently altered his company’s invoices without approval, forged the company’s documents and used same to give false information.

He also told the court how the businessman, used his company’s funds to establish his firm, named IDID Nigeria Limited.

AGF in the charge said the businessman, allegedly received by false pretence and with an intent to defraud, obtained the sum of N2. 9 billion, belonging to Eunisell Limited, from A-Z Petroleum Limited and Ammasco International Limited; omitting making full and true entry thereof in the books and accounts; suppression of data in respect of the financial transfer to Eunisell Limited; and converting the same amount without authority to create sufficient deposits to promote the credibility of his own company (IDID Nigeria Limited.

Amadi had pleaded not guilty to the charges.

However, further trial has been fixed for November 19.