EFCC Arraigns Former Company Director Over Fraud

The Economic and
Financial Crimes Commission (EFCC) has arraigned a former Executive Director of Lonestar Drilling Nigeria Limited, John Adet Esiegbuya, at a federal High Court, in Port Harcourt for allegedly stealing $300,000 (N48 million) belonging to the company.
The accused person who was arraigned on an eight court charge forgery, alteration of official documents, stealing money laundering and conspiracy, with two others at large, before Justice Lambo Akanbi.
The prosecution told the court that the accused, John Adet Esiegbuja, could on or about July,27, 2010, at Port Harcourt, within the jurisdiction of the honourable court, did steal $300,000 property of Lonestar drilling Nigeria Ltd.
The prosecution further told the court that the accused person and others now at large the accused person and others now at large on or about July 28,2010, at Port Harcourt within the jurisdiction of the court did collaborate in disguising the genuine ownership of the stolen $ 300,000.
The prosecution opined that the accused person committed an offence punishable under section 383 (2) (a), the criminal code Act Cap C38, Revised Edition Laws of the Federation of Nigeria 2007 and punishable under section 390 (90) of the same Act and Section 14 (10) (b) of the money laundery (prohibition)  Act, 2004 and punishable under section 14 (1) of the same Act.
The accused person, however, pleaded not quilty to all the charges brought against him.
Counsel to EFCC, Mrs Adebola Olutunji, who initially opposed a written bail application tendered by the defense counsel, Kola Olapujo, because of she was uncomfortable with some paragraphs in the application, later withdrew from her earlier position and asked the court to grant the written bail application as submitted by the defense counsel.
In his ruling, the trial Judge, Justice Lambo Akanbi admitted the accused bail of N2 million and two sureties in like sum one of the sureties would be a civil servant on grade level 14 while the second would be a lawyer.
The trial Judge further ordered that the registrar of the court must verify the authenticity of both sureties before effecting the release of the accused person and later adjourned the case to August 8th, 2014.