EFCC arraigns couple for N500m fraud

The Economic and Financial Crimes Commission (EFCC) has arraigned a couple, Emmanuel Dike and Ugochi Eziaku Dike, before the court in Port Harcourt, the Rivers State capital, for alleged N500 million investment fraud.

The couple was arraigned alongside their company, Dike & Phil Associates Limited on Wednesday, November 29, 2023, by the Port Harcourt Zonal Command of the EFCC on  five-count charges bordering on conspiracy, obtaining money under false pretence, and criminal conversion of funds to personal use.

One of the charges read: “That you Ugochi Eziaku Dike, Emmanuel Dike, Dike & Phil Associates Ltd; Kelechi Chigozirim Ahiawe (still at large), and Ampletech Integrated Services Ltd, sometime between the 24th day of August 2020 and 15th day of February 2021, at Port Harcourt within the jurisdiction of this honourable court with intent to defraud obtained the sum of Five Hundred Million Naira (N500,000,000.00) only from one Captain Chukwuemeka Stanley Ikeri, a Nigerian citizen and his company- Clipboard Office Superstores Limited, under the pretext  that it was for investment purposes that will yield him 10% interest, which you all claimed to have the capability to deliver to him, which pretext you knew to be false and thereby committed an offence contrary to Section 1(1) (b) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006 and punishable under Section 1(3) of the same Act.”

The couple pleaded not guilty to the charges when they were read to them.

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Following their pleas, the prosecution counsel, Dr. B. Ubi, prayed the court for a trial date, while the counsel for the defendants, J. C. Okeke, informed the court of his application for the bail of the first and second defendants.

Okeke further prayed the court to grant the couple bail to enable them prepare for trial.

Justice Ajoku, however, granted the defendants bail in the sum of N1 million each, with two sureties in like sum.

The judge said the sureties must be civil or public servants with the Rivers State or Federal Government and must be on grade level 12 and above.

Justice Ajoku ordered that the sureties must deposit two recent passport photographs with the court registry, and must be residents in Port Harcourt and have a Certificate of Occupancy which must be deposited with the court.

The defendants were remanded in the Port Harcourt Correctional Centre pending the perfection of their bail conditions.

The matter was adjourned to January 30, 2024, for the commencement of trial.

The Star