ENUGU, Nigeria (VOICE OF NAIJA)- A Federal High Court in Lagos State has issued a warrant for the arrest and extradition of three foreigners.
This is to enable the foreigners stand trial in Nigeria over alleged fraud to the tune of $42,485,900.
The three suspects are, Prem Garg, Devashish Garg and Marcus Wade.
According to City & Crime, the alleged fraud by the trio was committed against a Nigerian Bank.
The suspects were accused of fraud by the bank in a petition to the Department of Public Prosecution (DPP) of the Federal Ministry of Justice, Abuja.
The trouble began when a company, Agrico Agbe Limited and Wilben Trade Limited, Dubai, operated by the three suspects, requested a loan from the bank for the importation of rice in 2015.
According to documents sighted by reporters at the Police Force Headquarters, the bank opened letters of credit in the sum of $42,485,900 in favour of Wilben Trade Limited, Dubai, for the importation of rice.
The bank claimed that the company requested for an Import Finance Facility (IFF) loan for the importation of India-parboiled rice to Nigeria which was granted by the bank.
The facility was to be repaid primarily from the proceeds of the sales realised from the imported products and other revenues realized from the business in accordance with the agreement.
In consideration of a police (INTERPOL NCB) investigation report, the Attorney-General of the Federation indicted Wilben Trade Limited, Dubai, Marcus Wade and three others in a five-count charge,
The charges border on conspiracy, obtaining by false pretenses, cheating and criminal conversion with charge number: FHC/L//562C/2022, dated October 7, 2022, before the Federal High Court, Lagos, before Justice Akintayo Aluko.