Subsidy Fraud Trial: Court Seizes Assets Belonging To Seun Ogunbambo, Mamman Alli To Prevent Asset Liquidation By The Suspects

Justice Adeniyi Onigbanjo yesterday gave the Economic and Financial Crimes Commission (EFCC) approval to seize assets belonging Mamman Ali and Seun Ogunbambo, two suspects standing trial for engaging in extensive fuel subsidy fraud. The EFCC is to take possession of the assets pending the outcome of the trial.

Mr. Alli is a son of former national chairman of the People’s Democratic Party, Ahmadu Alli, a retired army general. The other accused, Mr. Ogunbambo, has been portrayed at trial as a sophisticated and experienced serial fraudster with several international passports.

Prosecuting counsel, Francis Usani, argued the case for the commission to be empowered to seize the suspects’ assets. Mr. Usani told the judge that the suspects may be moving to liquidate their assets in order to frustrate the government’s ability to recover if the case eventually goes against them.

Mr. Usani disclosed that Mr. Seun Ogunbambo has an account with FBN (UK) with a credit of one million pounds. The EFCC’s counsel suggested that the one million pounds in the FBN account was suspected to be proceeds from Mr. Ogunbambo’s fraudulent fuel subsidy claims. Prosecutors allege that the suspect claimed significant payments from the Petroleum Support Fund for purported petroleum transactions, adding that Mr. Ogunbambo took the cash but failed to import any liter of fuel.

During investigations, the EFCC discovered that Mr. Ogunbambo was the executive owner of Seatac Company, a holding company based in England that the suspect claimed he had imported fuel from. Mr. Usani revealed that the fat FBN account of Seatac Company bears the name of the suspect, Oluwaseun Ogunbambo.

The EFCC counsel contended that it was necessary to freeze the account before the
suspects move the cash in it to a different account that may be difficult to trace.

Justice Onigbanjo subsequently ruled that the EFCC should temporarily freeze the assets belonging to both Mr. Alli and Mr. Ogunbambo until the case is decided.

In all, five accounts found by the EFCC to bear the name of Mr. Ogunbambo’s companies – Fargo Petroleum Gas Ltd., Arnage Oil and Gas Ltd., and Seatac Petroleum Ltd. – were part of the assets ordered to be frozen. The amounts in Mr. Ogunbambo’s Nigerian bank accounts were not disclosed. The assets freezing order also included a property at 2 Olamijuyin Avenue, Parkview Estate, Ikoyi, Lagos State, reportedly belonging to Mr. Ogunbambo.

The judge also ordered that the bank account of Nasama Oil Services, owned by Mamman Alli, be frozen as well. Mamman Alli, one Christian Taylor and their company, Nasama Oil Services, are being tried alongside Mr. Seun Ogunbambo. Also standing trial are Mr. Ogunbambo’s protégé, Habila Theck, and their jointly-owned company, Fargo Oil and Gas Ltd. The accused are charged with using the company to defraud Nigerians of about N5 billion in fuel subsidy scams and related schemes.

Mr. Ogunbambo is also standing trial for obtaining a loan from the Stambic IBTC Bank with forged documents.
 

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tXhLA

He cries, "Wolf!" but Mrs.

Felix Oboro is worse than Deri

You got it wrong Deri.Your man, Chief Felix Oboro is not only a cocaine baron but looter of treasury.Having drank ogogoro in excess he now feels selling drugs is the best option.
Incidentally Oboro is from Bayelsa State where a lot of wrong things are being done with impunity.Boko haram is no doubt bad but Oboro is worse.

@ Bello Sanusi

YOU MENTIONED 4 THIEVES FROM THE YORUBA ZONE-- OUT OF WHICH ONLY ONE was listed tp have come from THE SS-HE DID NOT STEAL GOVERNMENT MONEY-NOR WAS HE INVOLVED IN OIL THIEVERY-IT WAS COCAINE-ACCORDING TO U ABI? SO WHAT IS YOUR OWN TROUBLE--HOW MANY OF THE FUEL SUBSIDY THIEVES CAME FROM THE NIGER DELTA-NONE --WHY NOT CONFINE YOUR THOUGHTS TO THE ACTIVITIES OF BOKO HARAM FOR ONCE THEN-------------?

Other regions in trouble under President GEJ

Babalakin,Fani Kayode,Alao Akala,and Fayose are all from the same South West in the net of EFCC while the same government protects Ambassador Felix Oboro Cocaine baron and looter of Public funds in Nigerias Embassy in Venezuela.The public understand the song the government is singing by hacking and harking down other regions in the country.2015 election is fast approaching to enable Daniel give judgement!

adenuga,dangote,otedola too

Why is efcc parading few suspect and leaving the rest?what about dangote's mrs,adenuga's conoil and otedola's zenon oil that were listed as part of the oil cabal that collected subsidy and did not supply fuel and diverted it to neighbouring countries to sell at high cost?the other day dangote brought a new yatch and people were worshiping him on social media not knowing it is the funds he diverted from fuel subsidy that he used to live an extravagant lifestyle.

Is Jonathan the judge or

Is Jonathan the judge or EFCC?

@ SundayNjokede

Its not Jonathan that will jail them. Its the Judiciary, you NUMPTY!!!

Jonathan Must Trace Otedola/Senator Lawan's Crime Dollars Now!

I hope Jonathan jail them before 2015 election. We don't want anymore wayo trials and mere political brinkmanship to only make him for good for 2015 presidential election.

Alh Bello Gwiwa, perm sec, local govt, sokoto.

Not only subsidy. What of the issue of local govt permanent secretary in sokoto, already EFCC has trace many properties in sokoto, Abuja, and kaduna. And about 500m in different account that are now frozen. and latest cars worth over 100m that he drives. his friends are forging documents to change ownership of vehicles for him now.

He is on bail courtesy of magajin garin sokoto, Alh Hassan marafa, who is close to labored.

Sokoto indegines and nigeria is waiting. Even Jonathan will envy his Manson in sokoto, and his latest wife from Niger republic, where dollars were sprayed. Video is available.

Seun who

Ok now ,only the ones wey no get godfather and the one wey godfather dey fight u a see.1 million pere out of billions stolen. Una no serious. When una bring the big fish to trial ,then we go take una seriously

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