Alleged N1.3bn fraud: EFCC charges Goodie Ibru, 3 firms

By Lukman Olabiyi
CHIEF Goodie Ibru, the elder brother to the pub­lisher of The Guardian, the late Mr. Alex Ibru, has been charged before a Lagos High Court over his alleged role in alleged N1.3 billion fraud.
According to the charge filed before Justice Raliatu Adebiyi by the Economic and Financial Crimes Commission (EFCC), Ibru was said to have conspired with three corporate orga­nizations, Associated Ven­tures International Lim­ited, IHL Services Limited and Clearview Investment Limited, to allegedly com­mit the fraud between 2010 and this year.
The EFCC in the 11-count charge alleged that Ibru and the three companies between Janu­ary and December 2010 conspired to steal and fraudulently converted N867,700,900 property of Ikeja Hotels Plc.
Besides, the anti-graft agency said EFCC that between June and October 2010 within Lagos judicial division, Ibru and the cor­porate organizations joint­ly conspired with intent to defraud, converted N55.1 million property of Ikeja Hotels Plc to personal use.
The prosecution claimed that the suspects used an­other company, Sherwood Limited as a conduit pipe to fraudulently siphon the N55 million from Ikeja Hotels.
The four defendants were also alleged to have fraudulently received £10,075 through Sher­wood Nigeria Limited as profit due to Ikeja Hotels Plc.
Also, EFCC alleged that between March and October 2010, the four de­fendants unlawfully con­verted $13,373 belonging to Ikeja Hotels Plc to per­sonal use through Sher­wood Limited (Managers of Sheraton Hotels, Ikeja.)
According to the prose­cution, the four defendants in February 2011 fraudu­lently converted to per­sonal use N27.5 million of Ikeja Hotels Plc. The fourth defendant, Clear­view Investment Limited was alleged to have been used as a conduit pipe for the controversial deal.
Between January and February this year, EFCC alleged that the four de­fendants dishonestly con­verted N21.3 million of Ikeja Hotels Plc to their personal use alleged to have been unlawfully re­ceived through Sherwood Limited.
According to the charge, between April and Octo­ber 2011, the accused al­legedly converted N120.5 million, property of Ikeja Hotels Plc to their per­sonal use which they al­legedly received through Sherwood Limited.
The offences, accord­ing to the prosecution, are contrary to and punishable under Sections 16, 370 (7) (b) and 9 of the Criminal Code Cap C.17 Vol. 11 Laws of Lagos State of Nigeria 2003.
-Sun