$9.6 Billion Fraud: Two British Nationals Arraigned By EFCC
The Economic and Financial Crimes Commission (EFCC) arraigned two British Nationals,James Richard Nolan, andAdam Quinn before a Federal High Court inAbuja yesterday for their alleged complicity in the $9.6 billion award to Process and Industrial Developments (P& ID) Limited by aUKarbitration panel.
The two men are both directors of Goidel Resources Limited, a Designated Non-Financial Institution (DNFI) and ICIL Limited. They were arraigned on a 16-count charge revolving around money laundering.
The defendants pleaded not guilty to the charges brought up against them andJusticeOkon Abang struck out count nine of the charges, stating that a court of law had no jurisdiction to entertain a charge against someone who wasn’t registered.
Justice Abang rejected the application for bail of the defendants and adjourned the case to November 20 and 21, ordering that the men be remanded in prison custody pending consideration of their bail application.