{"id":77135,"date":"2020-12-03T03:12:54","date_gmt":"2020-12-03T02:12:54","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=77135"},"modified":"2020-12-03T03:12:54","modified_gmt":"2020-12-03T02:12:54","slug":"alleged-n260million-fraud-efcc-presents-first-witness-against-cast-oil-and-gas-md-amusan","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/alleged-n260million-fraud-efcc-presents-first-witness-against-cast-oil-and-gas-md-amusan\/","title":{"rendered":"Alleged N260million Fraud: EFCC Presents First Witness Against Cast Oil and Gas MD, Amusan"},"content":{"rendered":"
\n
The trial of Olatunji Amusan, Managing Director, Cast Oil and Gas, for<\/div>\n
\n
an alleged N260 million fraud, continued on Wednesday, December 2, 2020
\nbefore Justice Oluwatoyin Taiwo of the Special Offences Court sitting in
\nIkeja, Lagos with the Economic and Financial Crimes Commission, EFCC,
\npresenting its first witness, Hycenth Obinna, an investigator with the
\nCommission.<\/p>\n

Amusan, who was first arraigned alongside his company in November 2019,
\nis standing trial for allegedly defrauding Nkasi Onyung, Managing
\nDirector, Energy Limited.<\/p>\n

During today’s proceedings, the witness narrated how Onyung had
\napproached the Commission after she was defrauded by Amusan.<\/p>\n

The petitioner alleged that her company had issued the sum of N260
\nmillion to Amusan’s company for the purchase of 3, 250litres of diesel
\n(AGO), which was never delivered.<\/p>\n

Led in evidence by Chikezie Edozie, Obinna told the Court that Onyung
\npetitioned the EFCC accusing Amusan of the fraud.<\/p>\n

He said: “In the course of investigation, we discovered that the
\ndefendant had several other cases with the Commission<\/p>\n

“We also found out that he was about to take off from the country.<\/p>\n

“So, I visited the office of the defendant in Victoria Island, Lagos
\nalong with a colleague in my Team and arrested him.<\/p>\n

“We brought him to our office, where we read the petition to him.<\/p>\n

“He confessed that he was aware of the transaction in question.<\/p>\n

“We then took his statement under caution after we had interviewed him.<\/p>\n

“He stated that everything in the statement was true.”<\/p>\n

Testifying further, Obinna told the Court that letters were written to
\nFidelity Bank for the bank statements of the petitioner and the
\ndefendant, as the transactions were carried out through the bank.<\/p>\n

He stated that forensic analysis confirmed that the sum of N240 million
\nwas, indeed, released for the transaction, but the defendant, rather
\nthan use it to supply the product requested, moved the money to his own
\naccount.<\/p>\n

“He told us that he used the money as an equity,” Obinna said.<\/p>\n

According to the witness, Amusan later promised to pay back the money.<\/p>\n

He said: “He brought back the first N100 million, which was later
\nreleased to the complainant; then, another N60 million, which was also
\nregistered in the exhibit register and released on bond to the
\ncomplainant; and then another N5 million, totalling N165 million out of
\nthe N260 million.<\/p>\n

“After that, he jumped bail, till another team investigating another
\ncase arrested him for other alleged fraud.<\/p>\n

“That was when we took him up again and charged him with fraud, as all
\nthe promises to pay back did not yield anything.”<\/p>\n

The case was adjourned till January 20, 2020.<\/p><\/div>\n<\/div>\n

<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The trial of Olatunji Amusan, Managing Director, Cast Oil and Gas, for an alleged N260 million fraud, continued on Wednesday, December 2, 2020 before Justice Oluwatoyin Taiwo of the Special…<\/p>\n","protected":false},"author":1,"featured_media":77136,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-77135","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nAlleged N260million Fraud: EFCC Presents First Witness Against Cast Oil and Gas MD, Amusan - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/news\/alleged-n260million-fraud-efcc-presents-first-witness-against-cast-oil-and-gas-md-amusan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Alleged N260million Fraud: EFCC Presents First Witness Against Cast Oil and Gas MD, Amusan - 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