BINANCE FALSE CLAIM ON BRIBERY DIVERSIONARY . (PHOTO). #PRESS RELEASE.

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 FEDERAL MINISTRY OF INFORMATION AND NATIONAL ORIENTATION  PRESS STATEMENT  BINANCE FALSE CLAIM ON BRIBERY DIVERSIONARY  The Federal Government of Nigeria is aware of attempts by Binance to launder its impaired image as an organisation that does not play by the rules and laws guiding business conduct in sovereign nations. In a blog post that has now been published by many international media organisations, in an apparent well-coordinated public relations effort, Binance Chief Executive Officer Richard Teng made false allegations of bribery against unidentified Nigerian government officials who he claimed demanded $150m in cryptocurrency payments to resolve the ongoing criminal investigation against the company.  This claim by Binance CEO lacks any iota of substance. It is nothing but a diversionary tactic and an attempted act of blackmail by a company desperate to obfuscate the grievous criminal charges it is facing in Nigeria. The facts of this matter remain that Binance is being inve
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ABUJA COURT JAILS EX-DIRECTOR FIVE YEARS FIR N250M FRAUD.(PHOTO).#PRESS RELEASE

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Abuja Court Jails Ex-Director Five Years For N250m Fraud
 
Justice F.E. Messiri of the Federal High Court sitting in Abuja has convicted and sentenced a former Director of Echo Logistics, Abdulrahman Aliyu, to five years imprisonment for his involvement in a N250, 000, 000 (Two hundred and Fifty Million Naira) fraud. 
 
He was jailed on Wednesday, June 14, 2023 on a three count charge bordering on criminal breach of trust, forgery and cheating to the tune of N250 million.  
 
One of the counts read; "That you, Abdulrahman Aliyu, sometime between July 2018 to July 2019 within the Abuja Judicial Division of the High Court of the Federal Capital Territory while being one of the Directors of Echo Logistics Limited and having been entrusted with a certain property to wit: the sum of N250,000,000.00(Two Hundred and Fifty Million Naira) transferred by one Alhaji Chubado Tijjani Babbi being investment money for the business of telecom bill recharge card sales into Echo Logistics Limited account domiciled in Jaiz Bank with account number 0002518093 in which you are the sole signatory did commit criminal breach of trust by dishonestly misappropriating the said sum in violation of the agreement in which such trust was to be discharged and you thereby committed an offence contrary to Section 311 of the Panel Code Law and punishable under Section 312 of the same  law"
 
During trial which commenced on November 9, 2021, the EFCC called five witnesses, tendered nine exhibits and closed its case. Final written addresses were adopted by the prosecution and defence  on April 25, 2023, while the Judge reserved judgment for June 14, 2023.
 
In his judgment,  Justice Messiri  convicted and sentenced the defendant to five years imprisonment  on all three- counts: One year imprisonment with an option of fine of  N300,000.00(Three Hundred Thousand Naira) on count one, two years imprisonment with an option of fine of  N500,000.00(Five Hundred Thousand Naira)  on count two and two years imprisonment or an option of fine of  N500,000.00(Five Hundred Thousand Naira)  on count three.
 
However, the judge did not make an order of restitution because Echo Logistics took liability and was repaying the complainant his dividends.



 

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