EFCC re-arraigns businessman over N4.8 billion fraud

The Economic and Financial Crimes Commission(EFCC) has re-arraigned a businessman, Cletus Ibeto, before Justice I.O. Ijelu of the Lagos State High Court sitting in Ikeja, in connection with an N4.8 billion fraud after he failed to appear in court on Tuesday, December 5.

EFCC revealed this in a lengthy statement on its X handle on Wednesday, December 6.

Ibeto, along with Ibeto Energy Development Company and Odoh Holdings Ltd, was set to face arraignment by the Economic and Financial Crimes Commission (EFCC) on 10-count charges.

The charges involve allegations of obtaining by false pretenses, fraudulent conversion of property, criminal breach of trust, forgery, and deception, amounting to N4.8 billion.

Part of the statement reads: “Count one reads: “That Chief Cletus Ibeto, Ibeto Energy Development Ltd and Odoh Holdings Ltd, between June 2016 and May 2017, within the jurisdiction of the court, by false pretence and with intent to defraud, obtained from Dozzy Oil & Gas Ltd and Sir Daniel Chukwudozie, the sum of N4.8bn purporting same to be consideration for 22.6536 hectares of land, which he claimed to have at the end of Reclamation Road Layout, Port Harcourt, Rivers State by a deed of sublease executed by Odoh Holdings and Ibeto Energy Development Ltd when he only had 7.9 hectares of the said land.”

Ibeto’s counsel however explained the absense of the defendant was due to his ill health. Uche Obi said: “Responding, Obi explained that the absence of the defendant was due to ill health. “The first defendant is indisposed in Dallas, United States, where he is receiving treatment for a life-threatening illness. So, contrary to the allegation of the prosecution, he did not sneak out of the country after the bench warrant,” he said. He, thereafter, presented to the court a medical report to back his claim.”

After listening to all the parties, Justice Ijelu adjourned till January 29, 2024, and held that “the issue of representation is in contention and has to be resolved; and so, this case is further adjourned for report on resolution as to legal representation for the prosecution”.

Source: X | officialEFCC