N50m Bank Loan: EFCC Arraigns Man For Forgery

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The Economic and Financial Crimes Commission, EFCC, yesterday, arraigned one Wahab Olawale Amoo and his company, Wahab Amoo and Sons Nigeria Limited before Justice Adedayo Akintoye of the Lagos State High Court, sitting in Igbosere on a 4-count charge bordering on conspiracy, forgery and obtaining by False Pretence to the tune of N50, 000, 000. 00.

According to the EFCC statement, the accused person allegedly conspired with his company, the 2nd accused, to defraud Fidelity Bank Plc of the sum of N50, 000, 000. 00 only by using forged documents to secure a loan facility.

One of the count reads, “that you Wahab Olawale Amoo sometime in the month of February 2013 at Lagos, within the jurisdiction of this Honourable Court and with intent to defraud  obtained the sum of  Fifty Million Naira (N50, 000, 000. 00) only from Fidelity Bank Plc (Bank) through a property which was under caveat at the Land Registry Lagos thereby preventing the bank from perfecting the legal mortgage which pretext you knew to be false and committed an offence contrary to Sections 1(1) and 1(3) of the Advance Fee Fraud and Other Related Offences Act, No. 14 of 2006”.


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