Anti-corruption agency, Economic and Financial Crimes Commission (EFCC) has arraigned a businessman, Akindele Akintoye, on charges of money laundering and contract fraud involving $35 million.
The case was earlier heard on Monday before Justice Emeka Nwite of the Federal High Court, Maitama, Abuja.
The charges before Akintoye according to EFCC, was that he allegedly received the funds from the Nigerian Content Development and Monitoring Board (NCDMB) to construct a refinery, jetty, gas plant, data centre, and tank farm in Bayelsa State’s Brass Free Trade Zone.
He reportedly funneled the money through four companies and Bureau de Change outlets.
One charge against him stated: “Between December 2020 and February 2021, you, Akindele Akintoye, and Platform Capital Investment Partners Limited, indirectly retained $16,006,000, knowing the sum constituted proceeds of unlawful activity.”
He, however pleaded not guilty to the four-count charge.
Meanwhile, following his plea, EFCC counsel Ekele Iheanacho requested his remand in a correctional centre pending trial.
However, the defence counsel, Emmanuel Esadio, applied for bail, citing Akintoye’s health and need for legal counsel access.
Justice Nwite emphasised the necessity of hearing from the prosecution on the bail application, saying, “Justice is tripartite – to the accused, the defendant, and society.”
He ordered Akintoye’s remand at Kuje Correctional Centre and scheduled the bail hearing for December 31.
The EFCC argued against the defendant’s continued custody in its facility, accusing him of untrustworthiness, including recovering his international passport under false pretenses.
“The defendant cannot be trusted,” Iheanacho told the court.
