N40m Fraud: Court Sends APC Chieftain To Prison

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The senatorial leader of the All Progressives Congress (APC) in Ondo State South Senatorial District, Dr. Taiwo Malumi, was, on Wednesday, remanded in prison custody by a Federal High Court sitting in Lagos. Malumi, a medical doctor and Managing Director of Funtai Limited, was arraigned before the court for an alleged N40 million fraud.

In a one-count criminal charge (No.FHC/L/302C/16) filed by the Special Fraud Unit of the Nigeria Police Force, Malumi was alleged to have fraudulently obtained the sum of N40 million from one Nick Shaiyen, Managing Director of Whitehall Management Limited.

The said sum was allegedly obtained from the victim through a property sold to him by Malumi. The property, identified as Unit B9, Funtai Court, 3, Ruxton Street, Ikoyi, Lagos, was falsely presented to Shaiyen as being totally free from encumbrances.

According to the prosecutor, Mr. Ekong Sunday, the alleged offense contravenes Section 1(1)(b) of the Advance Fee Fraud Related Offences Act 2016. The APC bigwig pleaded not guilty to the charge.
An attempt by his lawyer, Mr. Olumide Esan, to have his bail application heard failed, as he was unable to present the bail summon he had just filed before the court. The prosecutor also told the court that he needed time to respond to the application.

The presiding judge, Abdulaziz Anka, , while adjourning till 6 October for the commencement of Malumi’s trial, ordered that he be remanded in prison custody.

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