Famous businessman Chief Cletus Ibeto will be arraigned on Friday, November 3, before the Lagos State High Court sitting in Ikeja by the Economic and
will be arraigned on Friday, November 3, before the Lagos State High Court sitting in Ikeja by the Economic and Financial Crimes Commission over an alleged N4.8 billion fraud.
The EFCC had charged the defendant alongside his companies, Ibeto Energy Development Company and Odoh Holdings Ltd, before the court on a 10-count charge bordering on allegations of conspiracy, fraud, forgery and fraudulent use of documents. The senior lawyer also informed the court that the defendants had already approached the prosecution for an out-of-court settlement and that negotiations were ongoing.
Count 1 of the charge says that Chief Cletus Ibeto, Ibeto Energy Development Ltd and Odoh Holdings Ltd between June 2016 & May 2017 within the jurisdiction of the court by false pretence and with intent to defraud, obtained from Dozzy Oil & Gas Ltd and Sir Daniel Chukwudozie, the sum of N4.8bn purporting same to be consideration for 22.
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