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Appeal Court quashes Nwaoboshi’s acquittal, sentences lawmaker to seven years in jail for money laundering

The Court of Appeal, Lagos, on Friday, sentenced the Senator representing Delta North Senatorial District, Peter Nwaoboshi, to seven years imprisonment for money laundering.

The Economic and Financial Crimes Commission (EFCC) arraigned Nwaoboshi and his two companies, Golden Touch Construction Project Limited and Suiming Electrical Limited on a two-count charge of fraud and money laundering.

The defendants were arraigned over the acquisition of a property named Guinea House in Marine Road, Apapa, Lagos, for N805 million.

The commission alleged that the N322 million Suiming Electrical Limited transferred on behalf of Nwaoboshi and Golden Touch Construction Project Limited was among the proceeds of fraud.

READ ALSO: PDP reacts to Nwaoboshi’s defection, says its not bothered about those “who are neither here nor there”

Justice Chukwujekwu Aneke of the Federal High Court, Lagos, discharged and acquitted the defendants on June 18.

But in its ruling, the appellate court held that the prosecution had proved its case against the defendants.

The panel added the lower court’s judge erred in law by dismissing the charges against the respondents.

The court also ordered the winding up of the companies in line with the provisions of Section 22 of the Money Laundering Prohibition Act 2021.

The post Appeal Court quashes Nwaoboshi’s acquittal, sentences lawmaker to seven years in jail for money laundering appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

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