Court sentences inmate to 162-year imprisonment for fraud

A middle-aged man, identified as Mr. Ikechukwu Ogbu, who is serving a 10-year sentence at the Kirikiri Maximum Prison, was yesterday sentenced to 162 years imprisonment by an Ikeja high court for defrauding a bank manager, one Chukwu, of N12.3million. The convict, Ogbu, was charged alongside Chuks Ibebugbu for conspiring to defraud Edet Chukwu. They… Read More Court sentences inmate to 162-year imprisonment for fraud

Cambodian ambassador to South Korea arrested on fraud charges

Cambodia’s ambassador to South Korea has been charged in Cambodia with a string of corruption offences. Mr Suth Dina was questioned yesterday by the Anti-Corruption Unit following a probe into his spending and complaints by Foreign Ministry staff and Cambodian migrant workers. The Anti-Corruption Unit (ACU) alleged Suth Dina had amassed $7.2m in cash, $3m… Read More Cambodian ambassador to South Korea arrested on fraud charges

Princess Cristina of Spain make first appearance on court for trial

Spain’s Princess Cristina has testified for the first time at her trial for alleged tax fraud, answering only the questions posed by her own lawyer. She told the court in Mallorca that she had never asked her husband, Inaki Urdangarin, how he ran a property company they jointly owned. Mr Urdangarin is accused of using… Read More Princess Cristina of Spain make first appearance on court for trial

Former NIMASA boss arraigned in court over N2.6billion fraud

A  Federal High Court sitting in Lagos, was, yesterday, told how former Managing Director of Nigerian Maritime Administration and Safety Agency, NIMASA, Patrick Akpobolokemi, allegedly disbursed the N2.6 billion stolen by him. Akpobolokemi, who was accused of defrauding the Federal Government to the tune of N795.2 million, was arraigned before Justice Ibrahim Buba alongside three… Read More Former NIMASA boss arraigned in court over N2.6billion fraud

Drug firm’s shares tumbles due to alleged fraud case

Shares of Valeant Pharmaceuticals tumbled on Wednesday after a research firm accused the drug company of massive fraud similar to what doomed Enron. It’s the latest controversy swirling around Valeant, a $50 billion pharmaceutical giant that’s backed by hedge fund billionaire Bill Ackman. Federal prosecutors are already investigating the way Valeant prices and distributes its… Read More Drug firm’s shares tumbles due to alleged fraud case

Police arrest 2 in Ekiti over N7million fraud

Two officials of Ekiti State Central Medical Store, Ado-Ekiti, are currently cooling their heels in the custody of the State Police Command over fraud running into N7 million. The state governor, Mr Ayo Fayose, yesterday handed over the culprits, Mrs Cecilia Akinyele, a grade level 9 officer and Mr Bello Olajide, a grade level 10… Read More Police arrest 2 in Ekiti over N7million fraud

Gov. Okorocha suspends two Perm. Secs, six directors for alleged fraud

No fewer than two permanent secretaries and about six substantive directors (names withheld), serving in the Imo State civil service, have been summarily suspended by Governor Rochas Okorocha, for alleged fraudulent acts. Government’s action, which was aired severally on the airwaves of the Imo Broadcasting Corporation, IBC, Owerri, also ordered the affected officials to immediately… Read More Gov. Okorocha suspends two Perm. Secs, six directors for alleged fraud