Ismaila Atumeyi Yousuf, a New Nigeria Peoples Party (NNPP) House of Assembly candidate for the Ankpa II Constituency in Kogi State, has been charged by the Economic and Financial Crimes Commission (EFCC) before the Federal High Court, which is located in Lagos State.
Ismaila and two other people were charged on 18 counts in relation to an alleged N1.4 billion bank fraud.
Abdulmalik Salau, a former bank employee, and Ngene Joshua Dominic are the other two defendants.
In the first count, the EFCC claimed that former bank employee Abdulmalik Salau had violated Section 16(1) of the Cybercrimes Prohibition and Prevention Act of 2015 by directly causing modification of data held in the network of Union Bank PLC between August and October 2022 without legal authority, resulting in the transfer of N1.4 billion to the account of FAV Oil & Gas Ltd.
The three defendants were accused of conspiring in another count to hide the N1.4 billion in Fav Oil and Gas Limited's account.
The EFCC, through its counsel, Rotimi Oyedepo (SAN), on Monday, during their arraignment, told Justice Ringim Tijjani that the offences border on concealment of proceeds of fraud, cybercrime and money laundering.
The defendants were specifically accused of laundering the sum in tranches of $480,000, N100 million, N12.5 million, N9 million, N7 million, N7m, N12m, N8m, $140,000 and N326,400,000.
They were also alleged to have acquired a series of cars including N12.5 million black Mercedes Benz C300, N9 million Black Range Rover, N7 million BMW 3 series, N7 million Toyota Hilux 2014 upgraded to 2021, N8 million White Toyota Hilux 2010, N10 million White Toyota Hilux and N12 million Black BMW SURXI 2016.
Also, the court heard that the defendants directly transferred N80 million to Frank Maya Integrated Ventures, acquired a property known as N0 8, Grace Crescent, Efab Queens Estate, Gwarimpa, Abuja, and concealed N326,400,000 and $140,000 in a Black Escalade SUV.
Each of the defendants pleaded not guilty to the counts.
Justice Ringim adjourned the case for ruling on the bail application.