The Chairman of People’s Democratic Party (PDP), in Ondo State, Clement Faboyede and the Director General of PDP Campaign Organization in Ondo State during the last general election, Modupe Adetokunbo were today, arraigned before a Federal High Court, Lagos, on three count charge of money laundering to the tune of N500 million.
According to the three count criminal charge number FHC/ L/201C/2018 filed before the court by Economic and Financial Crimes Commission (EFCC), by one of his lawyers, Mr. Ekene Iheanacho, it was alleged that Clement Faboyede and Modupe Adetokunbo and others at large on or about the March 27, 2015, conspired amongst themselves to accept cash payment in the sum of N500million from one Owolanke Micheal which exceeded N5 million without going through a Financial institution.
The offence is said to be contrary to section 1, of the Money Laundering (Prohibition) Act, 2011(as amended by Act 1 of 2012) and punishable under section 16(2) of the same Act.
In count three of the charge, it was alleged that, Clement Faboyede while acting as the state Chairman of the People’s Democratic Party on the 27th day of March, 2015, made cash payment of the sum of N500 million to the Ondo State Election Committee of the People’s Democratic Party which exceeded N5 million without going through financial institution contrary to section 1 of the Money Laundering (Prohibition) Act, 2011(as amended by Act 1 of 2012) and punishable under section 16(2)of the same Act.
he two defendants pleaded not guilty to the charge.
Consequently, the prosecuting counsel, E. Iheanacho said that in view of the plea of not guilty of the defendants, he urged the court to remand them in prison custody and fix a date for trial to commence.
However, the defence counsel, Mr E. Eyitayo Jegede, SAN, orally urged the court to admit them to bail.
But the presiding judge, Justice Saliu Saidu, while rejecting Jegede’s request, ask him to file a formal application for bail.
In response, Jegede (SAN) informed the court that he had filed a formal applications but not yet to be in the court’s file.
Following Court’s direction that a formal bail application fo the accuser be filed, justice Saidu therefore ordering that the two PDP chieftains be remanded in prison custody pending when their bail applications will be entertained, while adjourned their trial till September 17, 2018.
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