Businessman loses concealed $200k to the FG 


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Justice Ijeoma Ojukwu of the Federal High Court, Abuja on Tuesday, February 27, 2018 convicted one Moghalu Maduakonam on one-count charge of money laundering preferred against him by EFCC.

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Maduakonam, a business man, was arrested sometime in February 2013 by operatives of the EFCC for transporting in cash in the sum of $200k while boarding an Ethiopian Airline from Nigeria to Dubai.

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The money is above the threshold of $10,000 allowed by law for an individual. The defendant failed to disclose the said sum to the Nigerian Customs Service, NCS.

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Justice Ojukwu, while delivering the judgment, said, “the prosecution had proved its case against the defendant beyond reasonable doubts. I have no difficulty in convicting the defendant on the count preferred against him.”

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Consequently, Justice Ojukwu ordered the forfeiture of the money to the FG. 

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