A compliance officer with a new generation bank, Mr. Chidubem Ogbura, today gave evidence before Justice Daniel Osiagor of the Federal High Court in Lagos in the ongoing trial of Friday Audu and three others, accused of masterminding a 792-member syndicate involved in cryptocurrency investment and romance fraud amounting to alleged N3.4 billion.
Chidubem, who is the first prosecution witness to give evidence in the matter, told the court that Audu is a signatory to the Bank account of Genting International Company Limited, one of the companies allegedly used to launder proceeds from the syndicates’ criminal activities.
Audu alongside two Chinese Nationals, Audu, Huang Haoyu, An Hongxu, and a company, Genting International Company Limited, are been tried by the Economic and Financial Crimes Commission (EFCC) on alleged conspiracy, cybercrime fraud and fraud of N3.4 billion.
At the resumed trial of the defendants today, Chidubem while being led in evidence by EFCC counsel, Barrister Bilkisu Buhari-Bala, explained that his role involved responding to regulatory requests, including a December 16, 2024, inquiry from the EFCC regarding Genting International Limited.
He tendered the account opening documents and statements, which the court admitted into evidence without objection.
Under cross-examination by Clement Onwuenwunor (SAN), counsel to the second defendant, the witness confirmed that Friday Audu and Bafale Yakubu were the account’s signatories.
The witness also stated that he observed the names of the second and third defendants in the account statements.
Counsel to the third defendant, Adeniyi Joshua, asked if the third defendant was a signatory or director of the company, to which the witness replied “no.”
He also confirmed that the account was not opened for the purpose of “gaining business,” as indicated in the bank’s KYC documentation.
Having completed his testimony, the witness was discharged.
Following this, counsel to the first defendant, Emeka Ukpoko (SAN), requested that the Nigerian Correctional Service provide a medical report on the second defendant due to unspecified health concerns.
Justice Osiagor adjourned the case until July 4, 2025, for continuation of trial, with more EFCC witnesses expected.
The EFCC had arraigned Friday Audu, Huang Haoyu, An Hongxu, and Genting International Ltd on a 12-count charge bordering on cybercrime, money laundering, and illegal foreign exchange transactions. They pleaded not guilty.
The defendants are accused of working with one Dualiang Pan (now at large) to operate a 792-member cryptocurrency and romance fraud syndicate that targeted victims through false identities.
They allegedly procured the Nigerian youths to impersonate foreign nationals, and facilitated the retention of $1.2 million and $1.3 million in crypto wallets held by Chukwuemeka Okeke, Alhassan Garba, and Ifesinachi Jacobs, the funds said to be proceeds of fraud.
According to the EFCC, the defendants also retained N3.4 billion in Genting Ltd’s Union Bank account and transferred N106 million and N913 million to Dualiang Pan’s UBA account. They are further accused of conducting illegal forex transactions totaling over N2 billion without using the official Central Bank of Nigeria (CBN) platform.
The alleged offences violate Section 29(2) of the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act, 2004; Sections 18 and 27 of the Cybercrime (Prohibition, Prevention, etc.) Act, 2015; and Sections 18(2)(d) and 21(c) of the Money Laundering (Prevention and Prohibition) Act, 2021.
