COURT JAILS TWO FOR N14.8M FRAUD IN MAIDUGURI. (PHOTO). #PRESS RELEASE.

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 Court Jails Two for N14.8m Fraud in Maiduguri Justice B.T Zannah of the Borno State High Court sitting in Maiduguri, on Monday, July 13, 2026 convicted and sentenced two to three years imprisonment. The convicts are: Babagana Bukar and Hauwa Chabri.  The convicts were arraigned on Monday, July 13, 2026 by the Maiduguri Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, on a separate one -count charge for the offence of criminal misappropriation to the tune of N14,800,000.00 (Fourteen  Million, Eight Hundred Thousand Naira). The charge against Bukar reads: "That you, Babagana Bukar sometimes in 2025 at Maiduguri, Borno State within the jurisdiction of this honourable court, dishonestly misappropriated and converted to your own use the aggregate sum of N8,800,000.00 (Eight Million, Eight Hundred Thousand Naira)  money belonging to Bunu Gambo Liman, being amount given to you through Babakura Umar and Bello Adamu for the supplies of 100 bags of IRS...
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CHINA BILLIONAIRE BUSINESSMAN DECLARED MISSING. (PHOTO).

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Billionaire businessman declared missing

17 February 2023 

One of China's most high-profile investment bankers has gone missing, his company has reported.

Bao Fan, the chief executive of China Renaissance Holdings, had not been able to be reached in recent days, the firm said in a market update on Thursday.

Mr Bao is a leading dealbroker in China whose clients include top tech companies Didi and Meituan.

His firm's announcement has renewed concerns of a potential Beijing crackdown on business and tech leaders.

Shares in China Renaissance plunged in Hong Kong trading on Friday, after the company's notice to the stock market said it had "been unable to contact Mr Bao Fan".

It added it was not aware of "any information that indicates that Mr Bao's unavailability is or might be related to the business and/or operations of the group".

The company did not specify how long Mr Bao had been missing. Chinese business newswire Caixin cited sources saying staff had not been able to contact him for two days.
Mr Bao, who is both the chairman and chief executive, founded China Renaissance in 2005 as a boutique advisory investment firm. It has since grown into one of China's top financial institutions - executing business deals and mergers between several of the country's tech companies.

The major bank has served as an advisor for the initial public offerings of JD.com and Kuashou, as well as Didi's listing at the New York Stock Exchange in 2021. 



 

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