Money laundering: Court sends ex-Ondo PDP chair back to prison

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Money laundering: Court sends ex-Ondo PDP chair back to prison


The Federal High Court in Lagos has adjourned till July 19, 2018, to rule on the bail application filed by a former Chairman of the Ondo State Peoples Democratic Party, Clement Faboyede, who was charged with an alleged fraud of N500m.
Justice Muslim Hassan adjourned for ruling on Tuesday after listening to the argument from Faboyede’s lawyer, Mr Eyitayo Jegede, who is a former Attorney General and Commissioner for Justice in Ondo State.
The judge, while adjourning the case, ordered that Faboyede and his co-defendant, Modupe Adetokunbo, should be taken back to prison.
The Economic and Financial Crimes Commission had on June 29, 2018, arraigned the two politicians for allegedly laundering a sum of N500m.
The anti-graft agency claimed that Faboyede and Adetokunbo, who was the Ondo State Coordinator of ex-President Goodluck Jonathan Campaign Organisation in 2015, received a cash sum of N500m from one Owolanke Michael in the build-up to the 2015 general elections.
Faboyede was accused of making N500m cash payment to the Ondo State Election Committee of the PDP without going through any financial institution.
The prosecuting counsel for the EFCC, Ekene Iheanacho, said the defendants committed the offence on March 27, 2015, adding that they acted contrary to Section 18 of the Money Laundering (Prohibition) Act, 2011,  and are liable to punishment under Section 16(2) of the same Act.
But Faboyede and Adetokunbo pleaded not guilty to the three charges pressed against them.
The PDP had, however, kicked against the trial of the defendants, contending that they committed no criminal offence.

In a statement by its South-West Zonal Publicity Secretary, Ayo Fadaka, the PDP said, “It is imperative to clearly underscore the fact that the N500m upon which this case is built is the campaign fund released by the party to the Ondo State PDP through the Fidelity Bank and not in any manner a fraudulent issue.

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