Court Remands Man Over Alleged Illegal Conversation Of Late Bizman’s Firms, N200m
Justice Deinde Dipeolu of a Federal High Court, Lagos, has ordered the remand of a middle age-man, Solomon Chibuzor Ehiem, who was arraigned before the court for allegedly converted a deceased businessman’s firms and N200 million.
Justice Dipeolu remanded the defendant, sequel to his not guilty plea to the charges of conspiracy and fraudulent conversation made against him by the operatives of the Police Special Fraud Unit (PSFU) Ikoyi, Lagos.
The defendant was arraigned before the court on Monday in a charge marked FHC/L/630c/2025, by Barrister Justin Enang.
Arraigning the defendant, the prosecutor informed the court that defendant committed the alleged illegal acts and one other (now at large) in Lagos, sometimes in February 2025.
He told the court that the defendant and his co-conspirator conspired among themselves and converted three companies: Refron 22 Gas and Refron 410 Gas and J.C. Nwadike Tech Company, property of late Chima Joseph Nwadike to their own.
He also told the court that defendant and the other at large, after converted the late businessman’s firms to their own, fraudulently transferred, retained and took possession or N200 million in the companies account, and used same for themselves.
He told the court that the alleged illegal acts of the defendant, contravened sections 20(a) and 18(1) & (2)(b) of the Money Laundering (Prevention and Prohibition) Act, 2022, but punishable under Section 18(3) of the same Act.
The defendant had denied the allegations and pleaded not guilty to the charges.
Following his not guilty plea, the prosecutor asked the court for a trial date, as well urged the court to remand the defendant, pending the determination of the charge.
Meanwhile, Justice Dipeolu has fixed August 12, 2025, for the hearing of the defendant’s bail application.
Charges against the defendant read: “that you Solomon Chibuzor Ehiem ‘m’ and other at large sometime in February, 2025, in Lagos State, within the jurisdiction of this Honourable Court, conspired between yourselves to convert Refron 22 Gas and Refron 410 Gas, property of late Chima Joseph Nwadike and his business entity, J.C. Nwadike Tech Company, to your own use and benefit and thereby committed an offence, contrary to Section 20(a) of the Money Laundering (Prevention and Prohibition) Act, 2022, but punishable under Section 18(3) of the same Act.
“That you Solomon Chibuzor Ehiem ‘m’ and other at large sometime in February, 2025, in Lagos State, within the jurisdiction of this Honourable Court, directly and intentionally converted to your own use and benefit, various quantities of Refron 22 Gas and Refron 410 Gas, property of late Chima Joseph Nwadike and his business entity, known as J.C. Nwadike Tech Company, which property you reasonably ought to have known, formed part of the proceeds of an unlawful act, to wit: Stealing and thereby committed an offence contrary to Section 18(1) & (2) (b) of the Money Laundering (Prevention and Prohibition) Act, 2022, but punishable under Section 18(3) of the same Act.
“That you Solomon Chibuzor Ehiem ‘m’ and other at large sometime in February, 2025, in Lagos State, in the aforementioned Judicial Division of Federal High Court, Lagos, did directly or indirectly converts or transfers, retains or takes possession or control of over of N200, 000,000.00 (Two Hundred Million Naira) belonging to late Chima Joseph Nwadike and his business entity, known as J.C. Nwadike Tech Company, knowingly or reasonably ought to have known that such funds is, or forms part of the proceeds of an unlawful Act and thereby committed an offence contrary to Section 18(2)(b) & (d) and punishable under Section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.”