Manny Ita –
Anambra State High Court sitting in Awka has convicted and sentenced the Managing Director of Orient Petroleum Resources Plc, Nnaemeka Nwawka, and the Registered Trustees of Sage Nebefeife Foundation to 14 years imprisonment each for fraud involving N25 billion.
Justice O.M. Anyachebelu delivered the judgment after finding the defendants guilty on a 10-count charge bordering on stealing, fraudulent conversion and gratification.
The court held that between April and December 2012, the convicts fraudulently converted N82.8 million transferred from Vhelbherg International Limited’s account with Standard Chartered Bank into the account of the foundation domiciled in First Bank. It further found that between January and May 2013, they converted an additional N29.6 million from the same company’s account into the foundation’s account for personal use.
The defendants pleaded not guilty to the charges, prompting the Economic and Financial Crimes Commission to proceed to full trial through its counsel, Victor Ukagwu. The trial, which lasted 10 years, saw the prosecution call four witnesses and tender documentary exhibits marked P1 to P24.
Evidence before the court showed that Mr Nwawka facilitated the award of contracts from Orient Petroleum Resources Plc to companies linked to his associates. The prosecution established that funds paid for the contracts were subsequently channelled back to him through the foundation and withdrawn for personal use.
Counsel to the first and third defendants, U.N. Udechukwu (SAN), and counsel to the second defendant, E.S.C. Obiora (SAN), presented their clients’ defences and explained the processes through which the contracts were executed. However, the court held that the prosecution proved its case beyond reasonable doubt.
Justice Anyachebelu sentenced the convicts to 14 years imprisonment each and ordered them to refund N140.9 million to Orient Petroleum Resources Plc.
The conviction followed a petition submitted to the EFCC by investor Cletus Ibeto, who alleged that he invested N25 billion in the company and that the funds were siphoned through suspicious contract awards to companies linked to the managing director and routed back through the foundation.
