EFCC Arraigns Malaysian over €250m Fraud

EFCC Arraigns Malaysian over €250m Fraud

The Economic and Financial Crimes Commission, EFCC, Lagos Zonal office, on May 22, 2019, arraigned a suspected fraudster, Tan Ah Chai Richard, alongside his company, Coastal Asia Investments Limited, before Justice Mojisola Dada of the Special Offences Court sitting in lkeja, Lagos on a five-count charge bordering on forgery, use of false document, conspiracy to forge and an attempt to obtain money by false pretence to the tune of €250,000,000.00 (Two Hundred and Fifty Million Euros).

One of the counts reads: “That you, Tan Ah Chai Richard, Coastal Asia Investments Limited and Dr. Sawang Jana (still at large), on or about the 27th September, 2018 at Lagos, within the jurisdiction of this Honourable Court, with intent to defraud, conspired to commit felony to wit: forgery of Swift Telex Advice dated 27th September, 2018, indicating transfer of the sum of €250,000,000 (Two Hundred and Fifty Million Euros) to Coastal Asia Investments Limited account with Polaris Bank Plc (formerly Skye Bank Plc) from HSBC Bank Plc, London, United Kingdom.”

Another count reads: “That you, Tan Ah Chai Richard, Coastal Asia Investments Limited and Dr. Sawang Jana (still at large), on or about the 27th September, 2018 at Lagos, within the jurisdiction of this Honourable Court, with intent to defraud, fraudulently used a false document to wit: a Swift Telex Advice dated 27th September, 2018, indicating transfer of the sum of €250,000,000.00 (Two Hundred and Fifty Million Euros) to Coastal Asia Investments Limited account with Polaris Bank Plc (formerly Skye Bank Plc), which you purported to be from HSBC Bank, London, United Kingdom by submitting the Swift Telex Advice to Chioma Omamegbe of Polaris Bank Plc (formerly Skye Bank Plc).”

The defendant, a Malaysian, pleaded “not guilty” to the charge preferred against him by the Commission.

In view of his plea, the prosecuting counsel, Bashir M. Kamil, asked for a trial date and also urged the court to remand the defendant in prison.

Counsel to the defendant, A. B. Onifade, told the court that he was served with the charge by the prosecution only on Tuesday, May 21, 2019 and that he would apply for the defendant’s bail after the proceedings.

He, therefore, urged the court to remand the defendant in the EFCC custody pending the determination of the case.

However, Kamil, objected to the prayer of Onifade, stressing that the Commission’s detention facilities were already overstretched.

Consequently, Justice Dada adjourned the case to June 28, July 2 and 8, 2019 for commencement of trial, and ordered that the defendant be remanded in Ikoyi Prison.

Tony Orilade
Ag. Head, Media & Publicity
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Fraudsters Claiming to be EFCC Operatives Extort Internet Fraudsters, Yahoo-Yahoo-boys
The attention of the Economic and Financial Crimes Commission, EFCC, has been drawn to the activities of some unscrupulous elements, who mount road blocks on some highbrow areas of Lagos, such as Victoria Island, Lekki and Festac Town, parading themselves as operatives of the Commission and extorting money from unsuspecting members on the allegation that they are suspected internet fraudsters, popularly known as “Yahoo-Yahoo boys.”

For the avoidance of doubt, it is not part of our operational practice to mount roadblocks and we do not hire agents. The criminal elements that mount the Lagos roadblocks are not our staffs and we have no connection whatsoever with their criminal activities.

Our operatives stick to a standard procedure in their operations, which conforms with the global best practices for intelligence officers.

Similarly, the Commission wishes to disown a letter of invite, purportedly emanating from one DSP Dorcas Bukola, via an email address: ([email protected]), inviting unsuspecting members of the public to our office. The email states: “find attached your invitation letter to our office. All necessary details are in the attached document.”

While the said DSP Dorcas Bukola claims to be acting on behalf of the EFCC, we strongly urge the general public and particularly those who have received the mail to ignore the invite as such a character is not in the employ of the Commission and has no authority to act on our behalf. Moreover, the Commission does not invite people online or through any other electronic mailing system.

We also warn every recipient of the mail that the attachment bears a virus that may compromise email accounts once opened.

Furthermore, the EFCC has a verified web mail for its online correspondences and does not use g-mail.

We restate that we are committed to making corruption and its kindred financial and economic crimes unattractive to criminal elements among us. Where in doubt as to the authenticity of a mail from the Commission, do not hesitate to contact us through our email: [email protected] or send us message via our social media platforms: (Twitter, FaceBook, Instagram) which share the same address: officialefcc. The Commission can also be reached via the hotline: +2348093322644 (+234809EFCCNIG)

Tony Orilade
Ag. Head, Media & Publicity