By Henry Ojelu
The trail of two oil marketers, Yusuf Kwande and Osahon Asemota and five companies before Justice Mojisola Dada of the Special Offences Court in Ikeja over allegation of N8.4 million fraud was Monday stalled due to the absence of all the defendants.
The five companies named in the charge are Trafigura Baheer BV, Trafigura PTE Ltd, Mettle Energy and Gas ltd, Renbrandt Ltd and JIL Engineering and Oil Services Ltd.
The are facing trial for allegedly defrauding Nigerian companies of 10,000 metric tonnes of Automotive Gas Oil worth N200 million.
The Economic and Financial Crimes Commission, EFCC, also alleged that the defendants stole about 6,425,271 metric tonnes of AGO worth $8,442,806.094, property of Nadabo Energy Ltd, which was under the legal custody of Spring Bank Plc.
According to the EFCC, the fraud forced Spring Bank, which financed the deal, into…
Read More…..Vanguard Newspaper
