Supreme Court quashes Senator Nwaoboshi’s conviction on alleged N805m fraud

Supreme Court quashes Senator Nwaoboshi’s conviction on alleged N805m fraud

The Supreme Court has set aside the conviction and sentencing of Senator Peter Nwaoboshi (Delta North) and his two companies, Golden Touch Construction Project Ltd and Suiming Electrical Ltd, for offences of fraud and money laundering.

The apex court ordered their immediate release from Ikoyi prisons in Lagos, where they were being held.

The Economic and Financial Crimes Commission (EFCC) had accused them of illegally acquiring a property named Guinea House on Marine Road, in Apapa, Lagos, for N805 million, property said to belong to the Delta State Govt.

The EFCC had claimed that part of the money paid for the property was transferred by Suiming Electrical Ltd on behalf of Nwaoboshi and Golden Touch Construction Project Ltd, adding that the funds were believed to be proceeds of their illicit activities.

The Supreme Court, in a split decision of four-to-one, held that Nwaobishi and the two companies were unjustly and maliciously prosecuted by the EFCC for committing no offences known to law.

It faulted the EFCC for subjecting them to needless criminal trial in relation to a civil transaction.

The Supreme Court also set aside the July 1, 2022 judgment of the Court of Appeal, Lagos, which had reversed their discharge and acquittal by a Federal High Court in Lagos.

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