The Economic and Financial Crimes (EFCC) on Monday, dragged a Nigerian, two Chinese, and their company, before a Federal High Court Lagos, over alleged 3.4bn fraud and conspiracy to destabilise Nigeria’s Economic structure.
The defendants are: Huang Haoyu, Friday Audu, An Hongxu and a company Gentting International Ltd.
The defendants are standing trial before Justice Daniel Osiagor on a 12-count charge of cybercrime.
They each, however, pleaded not guilty to the charge.
The prosecutor, Mrs Bilikisu Buhari, told the court that the defendants committed the offence sometime in 2024 in Lagos.
They were alleged to have conspired to commit the offence with one Dualiang Pan, who is now at large, to have willfully cause to be assessed, computer systems, organised to destabilise Nigeria’s economic structure.
The defendants were alleged to have procured Nigerian youths, to falsely represent themselves as persons of foreign nationalities.
They were 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 were alleged to have procured one Alhassan Garba and Ifesinaci Jacobs, to retain the sum of 1.3 million dollars in their crypto wallet, being proceeds of crime.
They were also alleged to have retained in the Union Bank account of Gentting International Ltd, the sum of N3.4 billion, which also forms part of 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 Gentting 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 proceeds of their fraudulent activities.
The offences contravenes 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 court adjourned the case until March 20, for hearing of the defendants’ bail application.
He ordered the defendants to be remanded in EFCC’s custody pending bail.
