Businessman Docked For Issuance Of N3m Dud Check

The Economic and Financial Crimes Commission (EFCC) on Wednesday, February 1, 2017 arraigned one Emmanuel Iloka, a businessman, before Justice Ijem Onwamegbu of the State High Court sitting in Onitsha on one count charge bordering on "Issuance of dud check." 

It was alleged by a petitioner that sometime in July 2015 the accused person approached his friend (complainant) to partner with him in the purchase of a container load of pharmaceuticals, particularly a drug called 'texamegazone,' from India for them to share the profit wherefrom on 50/50 basis. 

He however gave the accused person the sum of N3,100,000.00 (Three million one hundred thousand Naira), equivalent to $15,000 USD as his own contribution to the amount needed to finance the importation while the accused person, in return, gave the complainant an invoice indicating that the purchase had been done and that the said money had been remitted and received by the production company in India. 

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According to the complainant, since 2015 when the transaction was initiated, nothing has been done, as the products were not supplied. He added that the accused person told him the products had factory defects and that they were reproducing them. 

All efforts to recover the money proved abortive as the accused person became evasive.

The matter was subsequently reported to the EFCC. 

Prosecution counsel Mainforce Adaka Eku applied that the charge be read to the accused person who pleaded "not guilty" to charge leveled against him. 

Defense counsel A.M. Obi applied for bail of his client which was opposed by the prosecution on the ground that the accused had jumped administrative bail granted to him earlier by the Commission. 

He was, however, granted bail in the sum of N1,000,000.00 (One Million Naira Only  ) and two sureties in like sum each of whom  must present an evidence of tax payments and must also be a residents of the jurisdiction of the Honorable Court. 

The case has been adjourned to 7th February, 2017 for trial.

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BY ECONOMIC AND FINANCIAL CRIMES COMMISSION