N3.97billion fraud: Court convicts Badeh’s firm

Loses $1m, Abuja properties •Ends ex-CGS’ trial •Court winds up firm

The Federal High Court in Abuja yesterday convicted a firm linked with the late Chief of General Staff (CGS), Air Marshall Alex Badeh – Iyalikam Nigeria Limited – and ordered it be immediately wound-up.

Justice Okon Abang, in a judgment on Monday, after the firm changed its earlier plea of not guilty to guilty, convicted it on the amended 10-count charge of money laundering.

Justice Abang ordered the forfeiture of $1million and properties located in Abuja and linked with Iyalikam.

The guilty plea by the firm was part of the plea bargain agreement reached between the Economic and Financial Crimes Commission and the defence.

Properties traced to Badeh and Iyalikam which Justice Abang ordered their final forfeiture to the Federal Government were listed in the plea bargain agreement which the EFCC reached with the defence and filed before the court on Monday.

The assets are:

• A mansion at No. 6, Ogun River Street, Off Danube Street, Maitama, Abuja;
• A shopping mall at Plot 1386, Oda Crescent, Cadastral Zone A07, Wuse II, Abuja;
• A duplex at No. 19, Kumasi Crescent, Wuse II, Abuja;
• A duplex situate at No. 14, Adzope Crescent, Off Kumasi Crescent, Wuse II, Abuja;
• A semi-detached duplex situate at No. 8A, Embu Street, by Sigma Apartment Wuse II, Abuja and
• The sum of $1,000,000.00 only recovered from No. 6, Ogun River Street, Off Danube Street, Maitama, Abuja.

Based on the plea bargain agreement, the court also ordered that upon conviction, defendant should be wound up “and any other property or account in the name of the defendant shall be forfeited to the Federal Government of Nigeria”.

EFCC was, until Badeh’s death, prosecuting him alongside Iyalikam Nigeria Limited on 14 counts of money laundering bordering on alleged fraudulent removal of about N3.97billion from the Nigerian Air Force’s account.

Badeh and the company had jointly pleaded not guilty to the charges in 2016, prompting the prosecution to open its case which it later closed last year after calling 22 prosecution witnesses.

Badeh was scheduled to open his defence on  January 16 this year, but before the hearing date, gunmen killed him on Abuja-Keffi Expressway on December 18, last year.

At the January 16 hearing, the first which came up after Badeh’s death, the deceased’s lawyer, Chief Akin Olujinmi (SAN), and Iyalikam’s, Mr. Samuel Zibiri (SAN), pleaded with the judge to adjourn till after the deceased’s burial.

They added that the adjournment would afford them time to reach an agreement with the prosecution on how to proceed with the case.

Badeh had since been buried.

At the resumed hearing of case on February 26, the defence requested an adjournment of the matter to enable the company to open its case.

Justice Abang had adjourned the matter till Monday.

On Monday, the prosecuting counsel, Mr Oluwaleke Atolagbe, told the court that the prosecution and the defence had reached an agreement leading to the amendement of the charges to 10 counts and  which saw the removal of Badeh’s name as a defendant in the case.

Atolagbe said: “We filed a further amended charge dated March 1 and filed March 4 and we also filed a plea bargain agreement with regards to provisions of the Administration of Criminal Justice Act.”

Olujinmi, who represented Badeh and Mr. S.T Ologunorisa (SAN), who represented Iyalikam Nigeria Limited, on Monday, had contrary to Atolagbe’s position, argued that the charges needed not to be read because the company had no representative in court.

But Atolagbe insisted that the absence of the company’s representative was not a genuine excuse for the company not to plead guilty in the open court.

He added that the Administration of Criminal Justice Act, 2015, recgonised plea in a written form, an example of which, he said, was the plea bargain agreement already filed before the court.

With the judge adopting Atolagbe’s view, the amended charges were read to the company and a plea of guilty was recorded for the company in respect of each of the 10 counts.

Delivering judgment, which adopted the plea bargain agreement reached between the defence and the posecution,  Justice Abang convicted the company.

He added, “I have before me a plea bargain agreement duly executed by Iyalikam Nigeria Limited and the EFCC.

“I hereby find the defendant guilty and accordingly convict the defendant of the 10 counts further amended charge.

“Having regards to the plea bargain agreement duly executed by the parties, Iyalikam Nigeria Limited is hereby wound up and the judgment shall be served on the Corporate Affairs Commission for necessary action.”

Justice Abang also ordered that the various assets linked to the company in the charges be permanently forfeited to the Federal Government.

The judge also ordered the termination of all proceedings against Badeh.