FORMER DIRECTOR OF UNION BANK EMMANUEL NWUDE, LAWYERS REMANDED IN PRISON FOR FORGERY

LAGOS, Nigeria – Notorious fraudstar and former Director of Union Bank Plc, Emmanuel Nwude, and two lawyers, Emmanuel Ilechukwu and Rowland Kalu were today arraigned before a Lagos High Court, sitting in Ikeja, for forgery. They were arraigned before the court on 15 count charge of ‘conspiracy to forge and forgery contrary to Section 516 of Criminal Code Law, Cap C17, Laws of Lagos Stat, 2003.

According to the charge, the three defendants ‘on or about 12th day of January, 2011 at Lagos within the Ikeja judicial division conspired to forge a Power of Attorney issued in the name of Mankris Venture Limited purporting that Mankris Ventures Limited is the owner of plot Y, Moboaj Johnson street, Oreegun, Alasa, Lagos, whereas you knew that the property was forfeited to the victims of crimes as restitution in the judgement delivered on 18th Novmber 2005 by Hon. Justice Oyewole in ID/2cl/04, FRN V Emmanuel Nwude and 6 Ors and the victims subsequently sold the property to Rossab Industrial Design Limited which later assigned to G.C. Nweze and Company Limited.”

The charge further stated that the defendants ‘knowingly and fraudulently uttered a forged Power of Attorney on January 26, 2011 dated January 12,2011,’ made ‘document without authority contrary to Section 473(1) of Criminal Code Law of Lagos State, deal with forfeited property without authorization contrary to Section 32 (1) of the Economic and Crimes Commission Establishment Act, 2004.

Other alleged offences were ‘transfer of forfeiture property to nominees contrary to Section 17 of the EFCC Establishment Act, 2004, making false statement to public officer contrary to Section 96 of the Criminal Law of Lagos State, 2011, conspiracy to pervert cause of justice, fabricating evidence, and giving false testimony under oath.’

The defendants however pleaded not guilty to all the charge.

Counsel to the 2nd and 3rd defendants (lawyers) urged the court to grant them bail on self-recognition, arguing that the defendants are both lawyers with 29 years experiences each ‘without blemishes whatsoever.’

He further argued that since the ‘defendants have no valid international passport and the passports have been in the custody of EFCC for 11years and that they will not jump bail.’ In the event they were denied bail, he urged the court to remand them in EFCC custody. He also urged the court to grant the 1st defendant (Nwude) bail because ‘ he is suffering from prostate canver and will go for surgery on March 8, 2018

In his argument, prosecution counsel, Nnaemeka Omewa disagreed with the prosecution that the defendants be remanded in EFCC custody. He argued that ‘the law is clear that once a defendant takes his plea, he should be remanded in prison custody.’

“As for bail, this is a criminal matter. The essence of bail is to ensure the defendant stand his trial. In the event the court wants to grant them bail, the conditions should be the one that will make them stand trial and not jump bail,” he said.

The judge thereafter granted the 2nd and 3rd defendants bail in the sum of ‘N200,000 with sureties in like sum, owner of a property within Lagos metropolis, two years tax clearance, a sworn affidavit, ‘while the defendants must submit their call to the Bar certificate

The matter was adjourned till March 6 for hearing of bail application of the 1st defendant and March 14 for trial. The court ordered they be remanded in prison custody when they will perfect their bails.

Recall that Emmanuel Nwude swindled Nelson Sakaguchi, a director in the Brazilian bank, Banko Noroeste, based in Sao Paulo, one of the largest bank in Latin America between 1995 – 1998 to the tune of $242 million but pocketed $191 million in the deal.