N2.9bn Fraud: Court opens trial of Kenneth Ndubuisi Amadi
Justice Lewis Allagoa of a Federal High Court sitting in Ikoyi, Lagos, has been told how a former employee of Eunisell Limited, Kenneth Ndubuisi Amadi, allegedly defrauded the company the sum of N2. 9 billion, whilst working with the company as the Chief Executive Officer, CEO.
Amadi also allegedly intercepted N2.9bn payments due to Eunisell, and diverted the funds to promote the business of his company, IDID Ltd. He did this by forging the invoices of Eunisell and presenting the same to customers of Eunisell including A-Z and Ammasco International.
The witness 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 Chief Execitive Officer Kenneth Amadi gave them his company accounts to pay to.
The witness also revealed that the CEO, whose entitlements included N2.5m and $4, 000 monthly, a Lexus SUV car, company house in Lekki, medicals abroad and business class ticket, used the privilege and sensitive information he acquired in the course of his official position for the benefit of their competitors; suppressed data of payment to cover his fraudulent transaction on behalf of himself and the 2nd defendant and intentionally and fraudulently omitted from making full and true entry in the books and accounts of the company by using his privileged position as the chief Exevutive Officer to carry out all these atrocities.
On cross-examination, the defendants’ counsel, Emeka Etiaba (SAN) raised a court ruling to refile a withdrawn police case, the court however reminded him that it was not the matter in this court.
Narrating the events that led to the said court ruling and subsequent event, Ikenga said the defendant purportedly tried to use Police to try to frustrate his complaint including frivolous and malicious criminal charge against the complainant, which the same police later withdrew to avoid embarrassment.
The Inspector General of Police after a thorough investigation of the petition against Kenneth Amadi sent the case file to the Attorney General of the Federation, who confirmed that a criminal case is involved and then charged him to court.
Further hearing of the case has been adjourned till November 11 and 12, 2021
