P & ID scam

P&ID Scam: EFCC Re-Arraigns Nolan, Two Others

The Economic and Financial Crimes Commission (EFCC) on Monday re-arraigned two British nationals, James Nolan and Adam Quinn (at large), before Justice Donatus Okorowo of the Federal High Court in Abuja.

They were re-arraigned for their alleged complicity in the controversial Process and Industrial Development gas processing contract, leading to the $9.6 billion arbitral award to P&ID Limited by a United Kingdom commercial court.

The defendants, both directors of Goidel Resources Limited – a Designated Non-Financial Institution (DNFI) – and ICIL Limited, were re-arraigned on 32 counts bordering on money laundering.

Count 21 of the charge read, “That you, ICIL LIMITED, JAMES RICHARD NOLAN and ADAM QUINN (at large) between January and December 2008 in Abuja within the Abuja Judicial Division of the Federal High Court, used the total sum of N52,202,392.91 when you reasonably ought to have known that the said fund formed proceed of your unlawful activities to wit: tax evasion and failure to submit value added tax returns, and you thereby committed an offence contrary to section 15 (2) (d) and punishable under section 15 (3) of the Money Laundering Prohibition Act, 2011 (as amended by Act No. 1 of 2012).”

READ MORE: CBN EXCHANGE RATE DOLLAR TO NAIRA EXCHANGE RATE.

Another count read, “That you, ICIL LIMITED, JAMES RICHARD NOLAN and ADAM QUINN (at large) between January and December 2009 in Abuja within the Abuja Judicial Division of the Federal High Court, used the total sum of N26,366,748.91 when you reasonably ought to have known that the said fund formed proceed of your unlawful activities to wit: tax evasion and failure to submit value added tax returns, and you thereby committed an offence contrary to section 15 (2) (d) and punishable under section 15 (3) of the Money Laundering Prohibition Act, 2011 (as amended by Act No. 1 of 2012).”

After the charges were read to them, the third defendant (Nolan) pleaded ‘not guilty’ to the charges.

Quinn, who is at large, was not available to take his plea but the prosecuting counsel, Ekele Iheanacho, requested that his plea be recorded as “guilty” which the judge granted.

READ ALSO: POUNDS TO NAIRA EXCHANGE RATE

In view of Nolan’s not guilty plea, Iheanacho asked the court for a trial date.

The defence counsel, Micheal Ajara, on his part applied to the court for the defendant to continue enjoying the bail granted to him by Justice Okon Abang, which the prosecuting counsel did not oppose.

Justice Okorowo, thereafter, adjourned the matter until December 13 for the commencement of the trial.

Share:

Share on facebook
Facebook
Share on twitter
Twitter
Share on pinterest
Pinterest
Share on linkedin
LinkedIn

Related Posts