{"id":115411,"date":"2024-11-28T17:24:58","date_gmt":"2024-11-28T16:24:58","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=115411"},"modified":"2024-11-28T17:24:58","modified_gmt":"2024-11-28T16:24:58","slug":"buharis-ex-son-in-law-gimba-kumo-granted-n100m-bail-in-alleged-65m-fraud-case","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/exclusive\/buharis-ex-son-in-law-gimba-kumo-granted-n100m-bail-in-alleged-65m-fraud-case\/","title":{"rendered":"Buhari\u2019s ex-son-in-law Gimba Kumo granted N100m bail in alleged $65m fraud case \u00a0"},"content":{"rendered":"<div id=\"m#msg-f:1816983356538172209\" class=\"mail-message expanded\">\n<div class=\"mail-message-header spacer\" style=\"text-align: justify;\">A Federal High Court in Abuja has granted bail of N100 million each to the former chief executive officer of the Federal Mortgage Bank of Nigeria (FMBN) Gimba Kumo and two co-defendants Bola Ogunsola and Tarry Rufus in an alleged $65 million fraud case.<\/div>\n<div id=\"m#msg-f:1816983356538172209-content\" class=\"mail-message-content collapsible zoom-normal mail-show-images \" style=\"text-align: justify;\">\n<div class=\"clear\">\n<div dir=\"auto\">\nThe defendants face charges filed by the Independent Corrupt Practices and Other Related Offences Commission (ICPC), accusing them of awarding a $65 million real estate contract to Good Earth Power Nigeria Limited, an allegedly incompetent firm, in 2012.<\/p>\n<p>The ICPC alleges that Mr Kumo authorised a payment of N3.785 billion from the total contract sum of $65 million to Good Earth Power Nigeria Limited for the development of 962 housing units in Kubwa, Abuja, under the project named Goodluck Jonathan Legacy City.<\/p>\n<p>The anti-graft agency claims the firm could not complete the project, which remains unfinished, causing economic harm to the bank.<\/p>\n<p>Further allegations include securing a N14 billion loan from Ecobank Nigeria PLC for the project and making cash payments totalling $3.55 million, violating the Money Laundering (Prevention and Prohibition) Act, 2022.<\/p>\n<p>Kumo, along with the other defendants, pleaded not guilty to all charges during the court session.<\/p>\n<p>Pointblanknews.com reports that Justice James Omotosho, ruling on the defendants\u2019 bail applications, emphasised the presumption of innocence until proven guilty.<\/p>\n<p>He granted bail with the following conditions: N100 million bond for each defendant, backed by two sureties of like sum; sureties must own property valued at N100 million; and each surety must submit an affidavit of means and provide evidence of tax payment for the past three years.<\/p>\n<p>The ICPC did not oppose the bail applications.<\/p>\n<p>Kumo is the ex-husband of Fatima Buhari second daughter of former President Muhammadu Buhari. They got married in October 2016 in Daura, Katsina State.<\/p><\/div>\n<\/div>\n<\/div>\n<div class=\"mail-message-footer spacer collapsible\" style=\"text-align: justify;\"><\/div>\n<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>A Federal High Court in Abuja has granted bail of N100 million each to the former chief executive officer of the Federal Mortgage Bank of Nigeria (FMBN) Gimba Kumo and&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":115412,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-115411","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exclusive"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - 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