N2.9bn Fraud: Ex-Adamawa Gov, Fintiri remanded in prison

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Ahmadu Umaru Fintiri, ex acting governor of Adamawa State

Ahmadu Umaru Fintiri, ex acting governor of Adamawa State

The Economic and Financial Crimes Commission, EFCC, on Thursday, arraigned Ahmadu Umaru Fintiri and Mayim Construction and Properties Limited before Justice A.R. Mohammed of the Federal High Court, Maitama, Abuja on a 5-count charge of money laundering to the tune of N2.9 billion.

Fintiri, a former speaker, who also served briefly as the acting Governor of Adamawa State, allegedly laundered monies through his naira and dollar accounts domiciled at Ecobank Plc., and making a large cash payment for the purchase of a property at Plot Number 7, Gana Street, Maitama, Abuja.

Count 4 of the charge reads:

“That you, Ahmadu Umaru (alias Rt. Hon. Ahmadu Umaru Fintiri) and Mayim Construction and Properties Limited on or about the 9th October 2014 in Abuja within the jurisdiction of this Honourable Court did indirectly disguise the origin of the aggregate sum of N550,000,000 (Five Hundred and Fifty Million naira) through a term loan of twelve months purportedly granted to you by Ecobank Plc for the acquisition of a tea plantation farm from Nigeria Agricultural Bank in Taraba State which loan you repaid within three months as acting Governor of Adamawa State from sum which you know form part of proceeds of unlawful act to wit: corruption and thereby committed an offence contrary to Section 15(2)(a) of the Money laundering (Prohibition) Act, 2011 as amended in 2012 and punishable under Section 15(3) and (4) of the same Act.”

Upon the reading of the charges, the first defendant, Fintiri pleaded not guilty, while a plea of ‘not guilty’ was also entered for Mayim Construction and Properties Limited, pursuant to the provisions of Section 478 of the Administration of Criminal Justice Act.

In view of the pleas by the accused, counsel to EFCC, Aso Larrys Peters, requested for a date for …Read More

Source:: PM Newspaper