Court jails businessman Amadi, liquidates company over N2.9 fraud | The Guardian Nigeria News - Nigeria and World News

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Justice Ambrose Lewis-Allagoa of a Federal High Court, Lagos, has convicted the Chief Executive Officer (CEO) of IDID Nigeria Limited, Kenneth Amadi and sentenced him to 18 months imprisonment over fraud of N2.9 billion.

The judge found him guilty of counts 4 and 5 of five counts charge brought against him by the Federal Government of Nigeria , through the office of the Attorney General of the Federation .

Amadi and his company, IDID Nigeria Limited, were slammed a five-count charge of conspiracy and fraud to the tune of N2.9 billion.The offences contravened Section 1 of the Advance Fee Fraud and Other Fraud Related Offences Act. Cap.A6, Law of the Federation of Nigeria, 2004 and punishable under Section 1 of the same Act.

The prosecution had stated that the defendant obtained by false pretence, with intent to defraud, the sum of N2, 900,000,000 belonging to Eunisell Ltd, from A-Z Petroleum Ltd and Ammasco International Ltd; omitting making full and true entry thereof in the books and accounts; suppression of data in respect of the financial transfer to Eunisell Ltd; and converting the same amount without authority to create sufficient deposits to promote the credibility of his own company .

 

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