Justice Oweibo while adjourning the matter till June 21 for trial, ordered that the defendants be remanded in the custody of SFU till the perfection of the bail terms.
By Jude-Ken Ojinnaka
Two men, Mshelia Julius Silas and Sabo Muhammed Jimeta, including a Firm, Jitau Investment Limited were on Tuesday, docked by the Police before a Federal High Court sitting in Lagos over alleged Conspiracy, Fraud and Unlawful conversation of funds to the tune of N800 million in two bank accounts.
The defendants were arraigned by the officers of the Police Special Fraud Unit (PSFU), on the alleged offences before Justice Nicholas Oweibo.
When the matter was called up for arraignment, Mr Emmanuel Jackson, a Chief Superintendent of Police (CSP), with Mr Justin Enang, announced the appearance for prosecution while Joe Kyari Gadzama (SAN) with Kole Bello and J. W. Dong announced the appearance for defendants
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The prosecutor Mr Jackson told the court that other defendants still at large are Albert Atiwurcha, Nanda Ezekiel and J &J Holding Villa Limited.
In the charge, Mr Jackson told the court that the defendants with an intent to defraud, conspired among themselves and fraudulently sold off a property located at 3 Bunu Sheriff Crescent, Katempe Extension, Abuja, for the sum of N800 million.
He submitted that the said property belongs to one Abubakar Baba Zango, adding that upon selling off the property, the defendants diverted the proceeds into two bank accounts, Union Bank Plc account number 0041529275, belonging to Jitau Investment Limited and Zenith Bank Plc account number 1016265443, belonging to J and J Holding Villa Ltd, quite different from the one nominated by Abubakar Baba Zango, the real owner of the said property
The prosecution submitted that the offences allegedly committed by the defendants contravened Sections 1(3) and 1(i)(a) and of the Advance Fee Fraud and Other Fraud Related Offences Act No. 14 of 2006.
It was further submitted by the prosecution that the offences contravened Section 15(2)(b) of the Money Laundering (Prohibition) Act, 2011 as amended in 2012.
After hearing the charge preferred against them, the defendants pleaded not guilty to the offences.
Following their plea, the defendants’ Counsel Joe Kyari Gadzama (SAN); Kole Bello and J. W. Dong, informed the court that their clients’ bail applications had been filed and served on the prosecution.
Moving the bail applications, Gadzama (SAN) after citing a plethora of authorities, told the court that his client, Mshelia Julius Silas had earlier been admitted to administrative bail by the police, adding that he came back to the police yesterday for arraignment today (Tuesday). He argued in accordance with the provisions of the 1999 Constitution as amended, his client is entitled to bail.
He told the court that the case that brought his client to court was purely a civil contract issue between parties and urged the court to admit his client to bail in the most liberal terms or/and grant him bail on self-recognizance. He assured the court that his client will always be in court till the determination of the charges.
In his submission, Mr Kole, counsel to the second defendant aligned himself with the Gadzama’s submissions.
But opposing the bail applications, the prosecutor, Mr Jackson however admitted that the defendants were given administrative bail, but it took the police extra strength before they were rearrested and brought to court for arraignment.
He urged the court to discountenance the arguments of the learned Silk who said that matter was purely a civil one, He argued that the nitty-gritty of the matter was a criminal one which informed charging the defendants to court.
He stressed that the defendants would not turn up for their trial if admitted to bail. Consequently, he asked the court to decline to grant bail to the defendants.
After listening to arguments by counsel to the parties on the bail application, Justice Oweibo in his ruling acceded to the defendant’s counsel’s prayers and admitted each of the defendants to bail in the sum of N500 million each with one surety in like sum.
The judge ordered that the surety must be a property owner within Lagos and that the property must be worth the bail sum. Furthermore, the surety must provide evidence of tax payment for three years.
Justice Oweibo while adjourning the matter till June 21 for trial, ordered that the defendants be remanded in the custody of SFU till the perfection of the bail terms.
 after citing a plethora of authorities, told the court that his client, Mshelia Julius Silas){kind=link}