Businessman’s absence stalls alleged N4.8bn fraud case

The scheduled arraignment of a billionaire businessman, Cletus Ibeto, for alleged N4.8bn fraud was stalled on Thursday, for the third time, due to the absence of the defendant from the Lagos State High Court in Ikeja.

The Economic and Financial Crimes Commission filed 10 counts against Ibeto alongside his company, Ibeto Energy Development, before Justice Ismail Ijelu.

The charges border on obtaining by pretences, fraudulent conversion of property, criminal breach of trust, forgery, and deception.

EFCC said the offences contravened Section 1 of the Advance Fee Fraud Act 2006 and Section 365(3d) and (e), 366 of the Criminal Law of Lagos State, 2015.

When the matter was called on Thursday, the prosecuting counsel for the EFCC, Rotimi Jacobs (SAN), noted that the matter was for the arraignment of the defendants.

“The defendants’ counsel had promised to produce him on the next adjourned date, and that’s why we are here,” he said.

But the defence counsel, Dr Onyechi Ikpeazu (SAN), hinted that his client wanted an amicable resolution of the case out of court.

But responding, the EFCC prosecutor insisted that: “My Lord, there should be arraignment of the defendant first before the court will assume jurisdiction to do anything.”

Agreeing with the prosecutor, the judge said, “Even if there will be a plea bargain, he (Ibeto) has to come and take his plea before the court can assume jurisdiction. The defendant cannot be shielded from coming to court.”

While adjourning till November 3, the judge said Ibeto must appear or risk being declared wanted.