An Indian business man based in Nigeria, Patrick Fernandez, has entered into troubled waters with the Economic and Financial Crimes Commission, (EFCC), over allegations of duping some Nigerian banks to the tune of N32 billion by way of loans collection, a witness,
Adeniyi Adebayo, told a Federal High Court in Lagos, presided by Justice John Tsoho. Mr Adebayo who is an Investigator with the EFCC, told the court that the commission’s investigation into the case revealed that the banks involved in the scam did not follow due process when granting the accused person loan. Fernandez, alongside his three companies, Joseann Lobal Resources Limited, Pet Prime Impex Limited and Pet Ferns Nig. Limited, were arraigned before the court by the EFCC on 56-count charge of fraud. In a statement released by the anti-graft agency, the accused persons were alleged to have, between the 21st and 25th of January 2008, fraudulently, presented to the banks, various manager’s cheques for various sum.
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