A Malaysian man in EFCC net over €250m Fraud .
Tan Ah Chai Richard believed to be a fraudster along side his company ,coastal Asia investment limited ,has been arrested by the officials of the Economic and Financial Crimes Commission,EFCC, in Lagos.
According to report , Richard Chai alongside his company was arraigned by EFCC, before justice Mojisola Dada of the special offences court sitting in ikeja ,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.
One of 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, conspired to commit felony to wit: forgery of Swift Telex Advice dated 27th September, 2018, indicating transfer of the sum of €250,000,000 to Coastal Asia Investments Limited account with Polaris Bank Plc (formerly Skye Bank Plc) from HSBC Bank Plc, London, United Kingdom.”
The second 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 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
The defendant pleaded not guilty. The prosecutor ,Bashir M. Kamil , advised the court to remand him in prison and also to set a date for his trial .
A.B. Onifade, counsel to the defendant told the court that his client was served by the prosecution just on Tuesday ,May21 2019 and that he would apply for his bail after the proceedings .
Onifade prayed to the court to remand the defendant in the EFCC custody instead but kamil objected ,stressing that the commission detention facilities were already overloaded .
Justice Dada adjourned the case to June 28,July 2 and 8 ,2019 for the commencement of trial and also ordered that Richard Chai be remanded in Ikoyi Prison .
