The Lagos Division of the Court of Appeal has convicted and sentenced Senator Peter Nwaoboshi, senator representing Delta North Senatorial District at the National Assembly, to 7 years imprisonment.
The Appeal Court also ordered that his two companies, Golden Touch Construction Project Ltd and Suiming Electrical Ltd, be wound up in line with the provisions of Section 22 of the Money Laundering Prohibition Act 2021.
This ruling followed the appeal by the Economic and Financial Crimes Commission, challenging the judgment of the Federal High Court which on June 18, 2021 2018 discharged and acquitted the defendants of a two count charge of fraud and money laundering.
EFCC had arraigned the three defendants over the acquisition of a property named Guinea House, Marine Road, in Apapa, Lagos, for N805 million. Part of the money paid to the vendor, precisely a sum of N322 million transferred by Suiming Electrical Ltd on behalf of Nwaoboshi and Golden Touch Construction Project Ltd , was alleged to be part of proceeds of fraud.
The Federal High Court dismissed the charge on the ground that the prosecution failed to call vital witnesses and tender concrete evidence to prove the elements of the offences for which it charged the defendants.
As opposed to the ruling of the Federal High Court, the Appeal Court on Friday, 1st July, ruled in favour of the prosecutor, the superior court held that the trial judge erred in dismissing the charges against the respondents. It said the prosecution had proved the ingredients of the offence and consequently found the defendants guilty as charged.
