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Bizman, others remanded in prison over $.7m fraud

 BY EMMA OVUAKPORIE

ABUJA – THE Economic and Financial Crimes Commission, EFCC, has arraigned a businessman, Henry Akinduro, his company, His Grace Integrated Solution Limited, and two other accomplices before Justice Funmilayo Akinlade of the Lagos High Court, Ikeja, over offences bordering on forgery, stealing and conspiracy.

In the five-count charge preferred against the accused, namely Henry  Akinduro,Oladotun Ojuri, Raphael Obiakalusi and His Grace Integrated Solution Limited,they were alleged to have conspired to steal nine containers of gasoline generators valued at $713,007:00, property of Fujian  Tiger Machine Group of Company, China.

They were also alleged to have conspired to commit felony to wit forgery of a letter of indemnity dated November 23, 2009, purportedly issued by an officer of Vermegoz International Limited, as genuine.

They all pleaded not guilty to the charge, and the trial judge adjourned the case to April 14 when the application for bail would be heard.

He ordered that the accused persons be remanded in prison  custody.

According to the investigation, the  1st accused, Akinduro, who is also the managing director of Ibadan-based  His Grace Integrated  Solutions Limited, ordered for generators  from Fujian Group, China.

Investigations revealed that the company shipped ten containers of the generator to Nigeria and that on arrival in the country, they were moved to Mitchelle Bonded Container Terminal Warehouse in Lagos .

But the original bill of lading that would be used to clear the containers by the importer  (Akinduro’s  company) was with the exporter and the condition was that the documents would be released to the importer to clear the container after payment.