Tuesday, 16 October 2012

N76m Fraud: Bureau De Change Operator Jailed Two and Half Years

Justice Dije Abdu Aboki of a Kano State High Court has sentenced a bureau de change operator, Muktar Yusuf Gwadabe, who was prosecuted by the Economic and Financial Crimes Commission, EFCC, to two and half years imprisonment with an option of two hundred and fifty thousand naira (N250, 000.00) fine. He was convicted for fraud, criminal breach of trust and issuance of a dishonoured cheque amounting to seventy six million naira.

The Judge further made an order for restitution of the sum of seventy six million naira (N76, 000, 000) by the convict to the complainant, Alhaji Nura Ammani and in default, to serve a prison term of five years.

Gwadabe was arrested in February 2009 by the operatives of the EFCC following a petition from Alhaji Ammani who allegedly gave him (Gwadabe) the sum of one hundred and fifty two million naira (N152, 000,000) for the supply of one million US dollars ($1,000, 000.00).

The convict then supplied five hundred thousand US dollars ($500,000.00), (equivalent of N76million), but allegedly misappropriated and converted to his personal use, the balance of $500,000.00 or the naira equivalent ( N76 million ).
The accused subsequently issued a cheque of N76 million to the complainant which when presented for payment was returned unpaid because of insufficient fund in the accused person’s account. Consequently, he was charged for criminal breach of trust and issuance of a dishonoured cheque.

Count one of the charge that sent Gwadabe to jail reads: “that you Muktar Yusuf  Gwadabe (being a bureau de change operator), on or about February 2009, in Kano within the judicial division of the High Court of Justice of Kano State in that capacity was entrusted with certain property , to wit: seventy  six million naira (N76,000, 000), which you converted to your use and thereby committed criminal breach of trust: an offence punishable under section 312 of the Penal  Code Laws of Kano State”.

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