Businessman, Firm arraigned over alleged money laundering of $2.9m, N46m
An Abuja based businessman, Babatunde Morakinyo alongside his company, Renocon Properties Development Limited, was yesterday arraigned before a Federal High Court, sitting in Lagos over alleged money laundering of the sum of $2. 290,70 million USD and N46 million respectively.N700m fraud: Ize-Iyamu appears in court, gets Oct. 15 date for hearing on jurisdiction motion
The EFCC’s prosecutor, Mr Ebuka Okongwu, told the court that the defendants committed the offences between December 2013 and April 2014, in Abuja and Lagos. Ebuka said that the businessman used his company, Renocon Properties Development Limited, to allegedly laundered the sum of N16 million and N30 million, for one Hauwa Musa Shahu.The Commission further accused the defendant of carrying out transactions without report to the EFCC in writing, as specified under sections 5 and 10 of the Money Laundering
lawyer to the defendant, Mr Okechukwu Edeze, pleaded with the court for a very short date, to enable him to file his client bail application.
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