A Federal Excessive Court docket in Abuja has accepted a freezing order towards 5 bank accounts implicated within the alleged fraudulent diversion of N48 million funding aimed toward buying a crypto mining rig bundle in 2023.
Justice Emeka Nwite issued the interim order on November 28, 2024, following a movement ex parte filed by the Financial and Monetary Crimes Fee (EFCC).
The case follows a petition signed by Usman Abbas Esq and forwarded to the EFCC.
It states that the suspects, Dimeji Christopher and a number of other others, allegedly “introduced a crypto mining funding alternative to the complainants with guarantees of mouthwatering returns, which prompted the complainants to speculate a complete of N48,000,000 via a number of funds to numerous bank accounts offered by the suspects.”
In keeping with the EFCC, the suspects subsequently allegedly did not ship the promised return on funding or refund the capital funding, therefore the petition and ongoing investigation.
A mining rig is a specialised pc system utilized in mining cryptocurrencies.
EFCC Investigation
- Within the movement marked FHC/ABJ/CS/1188/2024, completely seen by Nairametrics, EFCC lawyer Sabina M. Dabak Esq instructed the court docket that the funds within the 5 bank accounts, that are the topic of the reliefs sought, are a part of an ongoing investigation by the EFCC.
- The lawyer added that the scenario includes the alleged acquiring of funds by false pretences and prison breach of belief.
- The lawyer argued that there’s a must protect the funds which were paid into the named accounts, together with these of Meta Consultants Restricted, pending the conclusion of the investigation.
- Within the affidavit accompanying the movement, dated November 27, 2024, Austin Elem, an EFCC operative, acknowledged that the sums acquired by Dimeji Christopher, the Director of Meta Consultants Restricted, from the complainants have been meant for the acquisition of a mining rig bundle as per the gross sales/internet hosting settlement executed by each events.
“Investigation up to now has revealed that the suspect didn’t use the funds for the meant objective however as a substitute disbursed the funds to accomplices and for private use,” he added.
- The deponent additional acknowledged that the investigation had not uncovered any funding in crypto mining or every other enterprise by the suspect on behalf of the petitioner, and the funds within the accounts are suspected to be proceeds of crime.
- The deponent additionally disclosed that the suspect, who initiated and approved the transfers to completely different accounts, has been on the run because the investigation started however was just lately arrested by the EFCC’s Kano State Zonal Directorate.
- He submitted that the investigation is ongoing to uncover the complete particulars of the transaction and the individuals concerned.
What Transpired in Court docket
On the resumed listening to on November 28, 2024, EFCC lawyer Stanley Obilo Esq urged the court docket to increase the freezing order granted to the Chairman of the Financial and Monetary Crimes Fee or any officer approved by him, directing the recognized banks to cease all outward funds, operations, or transactions (together with any payments of trade) in regards to the bank accounts, pending the conclusion of the continuing investigation and prosecution.
- He requested that the freezing order be prolonged for an additional 90 days and to approve the interim order within the curiosity of justice.
- In response, Justice Nwite acknowledged that after reviewing the EFCC’s movement and affidavits, “the appliance is meritorious.”
- He granted the EFCC’s request, besides that the brand new interim order will final for 60 days.
“Case adjourned to January 29, 2025, for a report,” Nwite dominated.
What You Ought to Know: When a freezing order is made by a trial court docket, the banks are required to conform by blocking transactions within the affected accounts.
Nonetheless, because the trial court docket’s order is interim, the affected events are entitled to method the court docket to have it put aside, or the order might expire if the anti-graft company’s request for renewal is just not granted.
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