HomeCourt room newsN4.8bn Alleged Fraud: Ibeto May Opt for Plea Bargain - EFCC Reveals

N4.8bn Alleged Fraud: Ibeto May Opt for Plea Bargain – EFCC Reveals


The Economic and Financial Crimes Commission, EFCC, has informed a Lagos State High Court, sitting in Ikeja, that Cletus Ibeto, Chairman of Ibeto Energy Development Company, has repaid the commission, a total of N1.5 billion, in two instalments.

Jacobs also informed Justice Ogala that the defendants paid the money as part of the ongoing plea bargain discussion between the anti-graft agency and the defendants.

He added that the defendants have agreed to pay the balance within the next three months.
The defence lawyer, Adebayo Oshodi, did not deny or confirm the claim.

The EFCC had charged the defendants before the court on a 10-count charge of conspiracy, fraud, forgery and fraudulent use of documents.

However, the case could not go, yesterday, due to the disagreement between the prosecution and the defence on which application is ripe for hearing.

While Oshodi insisted that the defendants’ application challenged the territorial jurisdiction of the court and should be heard by the court, Jacobs argued that the court could not entertain the application because the issues canvassed in it are also the same issues the defendants have placed before the Court of Appeal for determination.

The EFCC counsel also drew the court’s attention to an order issued by the former judge, Justice Ismail Ijelu, trial judge in the case before it was transferred to Justice Ogala, ordering the arrest of Chief Ibeto.

The Lagos State Director of Public Prosecution, DPP, Dr. Babajide Martins, who appeared in the matter as an interested party, told the court that he had filed an Amicus Curiae brief to assist the judge in deciding on what following action to take on the case.

The judge adjourned the matter till April 15, for continuation of proceedings.


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