EFCC Arraigns Man for N200m Fraud
Olaoluwa Folalu
Economic and Financial Crimes Commission, EFCC, has arraigned one Chief Jonathan Alatoru before Justice U.N Agomoh of the Federal High Court, Port Harcourt, Rivers State on an 8-count charge bordering on forgery and obtaining by false pretence to the tune of N200m (two hundred million naira).
Alatoru was alleged to have obtained a loan facility of N200m from one of the new generation banks sometime in September, 2012 with forged documents ranging from property valuation report, certificate of occupancy and consent letter to pledge the property used as collateral.
The accused pleaded not guilty to the charges against him.
Justice Agomoh granted the accused person bail in the sum of N50m (fifty million naira) and two sureties in like sum. One of the sureties must be a civil servant not below salary grade level 14 and must deposit his/her employment letter and last letter of promotion with the court.
The other surety must be a blood relation resident within the jurisdiction of the court. He is to swear to affidavit of means, present two passports and fill a bail bond.
The accused must also deposit his international passport and write an undertaken.
Justice Agomoh adjourned to January 21, 2016 for trial and ordered the accused person to be remanded in prison custody until the bail conditions are met.
