Alleged Diversion Of N100m Goods: AIFY Global MD  Remanded In Prison

A 58 year-old man,Dr.Nwagu Athan Ifeanyi, Managing Director,MD, AIFY Global Aluminum Company, Owerri has been remanded in Imo State Correctional Centre by a Magistrate Court following an alleged criminal diversion of one hundred million Naira (N100m),worth of goods kept under his custody in 2021.

Ruling on bail application in the case brought  before him by the police on behalf of the IGP chief Magistrate,TN Agummadu ordered that the defendant,Dr Nwagwu be remanded in Owerri Correctional Centre,(Prison) till February 2 to determine his bail application.

The prosecutor,Barr. Romanus Eze, legal officer attached to legal section Zone 9 Umuahia,Ania state read  the charge in case number Ow/400c/2023.

The charge showed that the defendant is involved in the allegation of fraud and diversion of goods placed under his  care worth N1000m.

The ruling emanated from a suit filed by the IGP through Barr.Eze on behalf:Chinonso Valentine,Ikechukwu Akachukwu,Amaka Okeke and four  others of Ninety Million, five hundred and fifty thousand four hundred naira worth of goods which he allegedly  diverted with the pretence that he will deliver the said goods to them which he never did.

The Prosecutor, further informed the court that the

delivering the goods as earlier agreed rather reportedly sold the goods with the container and diverted the proceeds realize from the sales into his personal account.

“The defendant diverted the proceeds realize from the sales into his personal account thereby committed an offense of Advance fee fraud punishable under Section 1(I)(a)(3) of the Advance fee fraud and other fraud related offences Act,Cap A6, Laws of the Federation 2006”,he explained.

Denying the charges , the defendant(Dr.Nwagwu) told the court that he never sold any goods belonging to the applicants rather, that he told them to pay N31million custom duty before their goods will be released to them.

Reacting , one of the applicants,Mr Ikechukwu Akachukwu who said that some of his goods ranging from motor spare parts, container of groundnut oil etc were among the missing goods informed the court that all efforts made by them to see the goods as claimed by defendant proved abortive as he tactically denied them access to those goods.

Another client, Mrs  Okeke, a widow informed the court that her 75 bags (25kg) Tiger rice were also missing.

After listening to both sides, the Chief Magistrate Agummadu ruled that the defendant should be remanded in prison custody till February 2 to determine his bail application.

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