N1.3 58bn Fraud: If they can rob MTN Multi-Purpose Cooperative Society, they can rob from Subscribers

A Lagos High Court in Ikeja yesterday remanded two employees of telecommunication giant, MTN, and three others in the custody of the Economic and Financial Crimes Commission (EFCC) for allegedly stealing N1.358 billion belonging to the company’s cooperative society.

The trial judge, Justice Kudirat Jose, gave the order after the accused persons, Victor Akintunde, Gani Mustapha, Mutairu Babatunde, Prima Vera Engineering and Construction Ltd and Mabo Dredging Ltd were charged before her by the commission.

They are facing a 17-count charge of conspiracy, stealing, obtaining by pretence, forgery and issuance of dud cheque.

According to the EFCC’s lawyer, Emmanuel Jackson, the accused persons who committed the offence in April 8, 2008, conspired to steal the sum of N127million, property of MTN employees Multi-Purpose Cooperative Society (MEMCOS).

The lawyer also alleged that the men on the same day, with intent to defraud, stole the sum of N50million belonging to MTN employees Multi-Purpose Cooperative Society, adding that the sum was fraudulently collected as deposit for payment for land they bought for the society from one Mutairu Baba Egbe Family on behalf of the society.

Jackson, further informed the court that the accused persons conspired to steal the sum of N77million, property of the Cooperative Society, being outstanding refund for five hectares out of 13 hectares of land they bought for the society, from Mutairu Baba Egbe Family, that they claimed had a defective title.

He also alleged that Mutairu Babatunde and Primavera Engineering and Construction Ltd stole the sum of N516.697million, property of MEMCOS being the sum he fraudulently claimed he used to compensate early settlers in 26 hectares of land amounting to 321 plots of land you bought for the society from Jagun Opolu family.

The third, fourth and fifth, defendants, were also accused of issuing a First Bank cheque No. PC 68290484 in the sum of N427million, in favour of the MTN employees Multi- Purpose Cooperative Ltd, which was dishonured when it was presented at the bank for lack of sufficient fund in the account.

They all pleaded not guilty to the charge and Justice Jose fixed February 27, 2014, for the arraignment of the defendants.

The Judge further ordered that the third defendant, who was not in court,  should be produced on the next adjourned date, when the defendants.