Babalakin vows to show up in court as EFCC declares him wanted

The Chairman of Bi-Courtney Highway Services Limited, Wale Babalakin

The Economic and Financial Crimes Commission (EFCC) has declared the Chairman of Bi-Courtney Highway Services Limited, Wale Babalakin (SAN) wanted in connection with a case of criminal conspiracy and money laundering to the tune of N4.7billion.

 

The businessman who was supposed to have reported to the anti-graft agency on Wednesday, ahead of his arraignment on a 27 count criminal charge before Justice Adeniyi Onigbanjo of the Lagos High Court on Thursday, January 17, 2013 failed to do so.

According to the statement Mr Babalakin has “gone underground” as he failed to show up at the commission as expected.

But in a swift reaction, the Head of Communications, Bi-Courtney Ltd, Mr Dipo Kehinde, denied the claim by EFCC stating that “Babalakin was in touch with EFCC by 5pm today. They asked him to report at their office tomorrow before he goes to court. Tonight, he was declared wanted.”

“We don’t understand the game that EFCC is playing” he stated adding that “this is nothing but a deep political game.”

“Since Babalakin came out of the hospital, he had reported at the EFCC office in Lagos for more than 5 times. He was also there on Tuesday. He is on EFCC’s administrative bail. He’s not a man on the run. We have a date in court tomorrow, but EFCC wants to give jungle justice.”

Money laundering: Babalakin checks into LUTH as EFCC insist on prosecuting him

The intrigues playing out on the money laundering case instituted against legal practitioner and Bi-Courtney Chairman, Wale Babalakin, continued Friday as the Economic and Financial Crimes Commission (EFCC) say there is no injunction stopping it from prosecuting the suspect.

A Federal High Court judgment delivered by Justice Mohammed Idris had restrained the agency from putting the businessman on trial.

A desperate Babalakin who had earlier claimed was hospitalized, apparently bought time to obtain the order to stop his arraignment in court for fraud charges.

Only yesterday, Babalakin reportedly checked himself into the Lagos Teaching Hospital (LUTH), 24 hours after he maintained he was ill and could not attend the hearing of case.

His ailment is yet disclosed but his lawyers tendered what is believed to be a spurious medical report issued by a LUTH specialist, Dr. Charles Harmound.

But refusing to be fazed by the Babalakin’s scheming, the EFCC within hours of the Idris judgement released a statement, insisting that their most wanted man will be tried.

The agency noted that many people have misinterpreted the judges’s ruling, adding that he “merely GRANTED LEAVE to the applicant to apply for an order of prohibition preventing the EFCC and the Attorney General of the Federation from going ahead with his arraignment.”

Below is a full text of the EFCC Press Statement.

Contrary to reports by a section of the media, the Economic and Financial Crimes Commission (EFCC) has not been stopped from arraigning Dr. Wale Babalakin by any court order.

The ruling by Justice Mohammed Idris of a Federal High Court, Lagos which many have construed as a restraining order, merely GRANTED LEAVE to the applicant to apply for an order of prohibition preventing the EFCC and the Attorney General of the Federation from going ahead with his arraignment.

This was one of three prayers sought by Babalakin through an ex-parte application. But Justice Idris turned down the two other prayers, which included an order to restrain the respondents from prosecuting the applicant.

Their motion on notice for interlocutory injunction against the EFCC and the AGF is scheduled to be heard on December 12, 2012.

Babalakin was to have been arraigned on Thursday November 30 before Justice Adeniyi Onigbanjo of a Lagos State High Court, Ikeja on money laundering charges but failed to show up, claiming sudden illness that necessitated his hospitalization at the Lagos State University Teaching Hospital.

The businessman and four others: Alex Okoh, Stabilini Visioni Limited, Bi-Courtney Limited and Remix Nigeria Limited are facing a 27-count charge for fraudulently transferring various sums of money on behalf of the former governor of Delta State, Chief James Ibori, through third parties to some foreign accounts under the guise of purchasing a Challenger Jet Aircraft.

Justice Onigbanjo has adjourned the case to December 12, 2012.

Wilson Uwujaren
Ag. Head, Media & Publicity

EFCC Ordered to Verify Babalakin’s ‘Illness’

The trial for the Bi-Courtney Highway Services, Dr. Wale Babalakin, was stalled yesterday following his failure to appear before a Lagos High Court, Ikeja, where he was to be arraigned for allegedly laundering money.

Dr. Wale Babalakin was accused of allegedly laundering money for convicted former governor of Delta State, James Ibori.

Babalakin’s counsel, Ebun Sofunde (SAN), court presided over by Justice Adeniyi Onigbanjo, that his client could not make it to the court as he was on admission at the Lagos State University Teaching Hospital.

Babalakin, alongside Mr. Alex Okon, is accused of allegedly aiding Ibori to launder N4.7bn of government’s money.

The Economic and Financial Crimes Commission (EFCC) said they used different companies as conduits to launder the money.

Stabilini Visioni Ltd., Bi-Courtney Ltd., and Renix Nigeria Ltd are the other companies charged alongside Babalakin and Okon. The companies are said to have been used to lauder the money.

The accused are facing 27 counts of conspiracy and fraud.

The EFCC supposed that the Babalakin had illegally assisted Ibori to transfer different sums to Erin Aviation account in Mauritius for the purchase of a Challenger Jet.

EFCC counsel, Mr Rotimi Jacobs (SAN), in his comments suspected that Babalakin was using tactics to frustrate his indictment.

Jacobs, who was amazed at the development, said it could not be, since the medical report was issued on the same day (last Monday) Babalakin met with the EFCC in Abuja.

He said, “It took the EFCC close to a week to get him. He was served with all the processes and released because he took an undertaken that he will appear in court for his arraignment.

“We believe if there is a medical issue that he should have contacted us yesterday (Wednesday) rather than to confront us with this application this morning.

“We are disappointed by the tactics of the first defendant (Babalakin) but Your Lordship can bend backward and allow us to come back next week.”

However, the judge said, since an admission of a patient in a hospital like LUTH was easily confirmable, he ordered the EFCC to go to the hospital, verify and report to the court.

Babalakin feigns illness to stop money laundering trial

The trial of Dr. Wale Babalakin and four others by the Economic and Financial Crimes Commission (EFCC) over an alleged N4.7 billion fraud could not proceed today as the court was told that Babalakin is on admission at the Lagos State University Teaching Hospital, elombah.com has learnt.

The EFCC had filed a 27 count charge against Dr. Wale Babalakin (SAN), Alex Okoh, Stabilini Visioni Ltd, Bi-Courtney Ltd and Renix Nigeria Ltd for fraudulently assisting former governor of Delta State, James Ibori to tranfer various sums of money through third party to some foreign accounts under the guise of purchasing a Challenger Jet Aircraft.

The EFCC also alleged that Babalakin and his co defendants between May and September 2012 fraudulently assisted James to transfer various sums through various parties to Erin Aviation account in Mauritius for the purchase of the said aircraft.

The various companies that were used to transfer the alleged stolen fund includes Interactive Technologies Ltd, Sopetrol Oil and Gas Ltd, Casaka Nigeria Company Ltd, Geofluids Ltd, ABS Ltd and Hyundai Heavy Industries Nig. Ltd.

when the matter was called up today, Counsel to Babalakin, Mr. Ebun Sofunde told the court presided over by Justice Adeniji Onigbanjo that his client is currently on admission at LASUTH over an undisclosed sickness.

Mr. Sofunde informed the court that he had earlier forwarded a letter to the registrar of the court which contained a medical report by one Dr Charles Harmon about Babalakins health.

He told the court that Babalakin health deteriorated immediately after he appeared before the EFCC office in Abuja on the 26 November, 2012 for questioning.

He asked the court to adjourn the matter to allow his client recover from the undisclosed sickness.

EFCC Counsel, Rotimi Jacob expressed his disappointment at the turn of event saying he was shocked at the antics being employed by Babalakin.

He informed the court that on the said date that Babalakin purportedly took ill, he was in the EFCC office and did not show any sign of illness.

Ruling on the matter, Justice Onigbanjo asked the EFCC counsel to verify that Babalakin is on admission at LASUTH.

He also enjoined the commission to get an independent medical report on the true state of Babalakins health.

The judge subsequently adjourned the matter to 13 December, 2012 for possible arraignment.

Source -Elombah

EFCC Accuses Babalakin of Laundering N3.4b for Ibori through Mauritius

The Economic and Financial Crimes Commission (EFCC) has accused the Chairman of Bi-Courtney, Dr. Olawale Babalakin, and four others for laundering money for former Delta Governor James Ibori through Mauritius.

EFCC said Dr. Olawale Babalakin, Stabilini Vision Limited, Bi-Courtney Limited, Alex Okoh, and Renix Nigeria Limited laundered over N3.4 billion through Mauritius for former governor to buy an aircraft.

It also accused the five suspects of siphoning $11.3 million abroad for Ibori through Erin Aviation Account in Mauritius.

The commission filled a 27-count charge against the five suspects in the High Court of Lagos State, Ikeja Division.

On behalf of the EFCC and the Attorney-General of the Federation, A.M. Yusuf Esq filled the 27 count charges dated November 21.

Although as at yesterday, a day was yet to be fixed when the suspects will be arraigned in court as the commission is still expecting them to report.

A source said: “Babalakin called EFCC on Thursday and he assured us that he would report at the commission’s office. We have prepared our investigators for him in the Lagos office and at the headquarters in Abuja.

“We have extended courtesy to Babalakin and we gave him ample opportunity to respect our invitation. If he does not, we know the right step to take.”

In the charge sheet, all the suspects are to be arraigned in court for alleged “conspiracy to commit felony, to wit: corruptly conferring benefit on account of public action, contrary to Section 516 of the Criminal Code Law, CAP. C17, Laws of Lagos State, 2003”.

They are also to respond to allegation of “corruptly conferring benefit on account of public action, contrary to Section 98A (1) (a) of the Criminal Code Law, CAP. C17, Laws of Lagos State, 2003.”

The third leg of allegation is “retention of proceed of a criminal conduct contrary to Section 17(a) of the Economic and Financial Crimes Commission (Establishment) Act, 2004”.

Part of the charge sheet reads, “That you, Dr. Bolanle Olawale Babalakin, Stabilini Visioni Limited and Bi-Courtney Limited, between May 2006 and December 2006 within the jurisdiction of this Honourable Court did corruptly confer benefit on former Governor James Onanefe Ibori to wit: the sum of N1, 356, 600b on account of contracts awarded by Delta State Government through various third parties to Erin Aviation Account in Mauritius for the purchase of Challenger Jet Aircraft by the said James Onanefe Ibori.

“That you, Dr. Bolanle Olawale Babalakin, Stabilini Visioni Limited and Bi-Courtney Limited on or about 3rd May 2006 within the jurisdiction of this Honourable Court did corruptly confer benefit on former Governor James Onanefe Ibori to wit: the sum of N145,500,000 on account of contracts awarded by Delta State Government to Stabilini Visioni Limited by transferring the said sum through third parties to Erin Aviation Account in Mauritius for the purchase of Challenger Jet Aircraft by the said James Onanefe Ibori.

“That you, Dr. Bolanle Olawale Babalakin, Stabilini Visioni Limited and Bi-Courtney Limited on or about 10th May 2006 within the jurisdiction of this Honourable Court did corruptly confer benefit on former Governor James Onanefe Ibori to wit: the sum of N118million awarded by Delta State Government to Stabilini Visioni Limited by transferring the said sum through third parties to Erin Aviation Account in Mauritius for the purchase of Challenger Jet Aircraft by the said James Onanefe Ibori.

Other funds allegedly laundered by Babalakin, Stabilini Visioni, Bi-Courtney on the 5th, 10th and 26th of May were N100,000; N 89m; N102m; N35m; N156m; and N67m.

The EFCC also alleged that on June 2, 2006, the suspects “did corruptly confer benefit on former Governor James Onanefe Ibori to wit: the sum of N260m on accounts of contracts awarded by Delta State Government to Stabilini Visioni Limited by transferring the said sum through various third parties to Erin Aviation account in Mauritius for the purchase of Challenger Jet.”

According to the charge sheet the dollar components of the funds laundered by the suspects in company with two others.

They will face trial for alleged “retention of proceeds of a criminal conduct, contrary to Section 17(a) of the Economic and Financial Crimes Commission (Establishment) Act 2004.”

The EFCC said: “That you. Dr. Bolanle Olawale Babalakin, Alex Okoh, Stabilini Visioni Limited, Bi-Courtney Limited and Renix Nigeria Limited on or about 15th May 2006 within the jurisdiction of this Honourable Court did retain the control of proceeds of financial crime to wit: the sum of $500,000 on behalf of James Onanefe Ibori by transferring the said sum to Erin Aviation account in Mauritius through Interactive Technologies Limited/ TN FOCUS and which sum you knew was as a result of criminal conduct by the said James Onanefe Ibori.

The EFCC alleged that the suspects had also separately laundered $2m, $1m, $2m, $300,000, and $500,000, among others, for Ibori.

The commission added: “That you, Dr. Bolanle Olawale Babalakin, Alex Okoh, Stabilini Visioni Limited, Bi-Courtney Limited and Renix Nigeria Limited on or about 17th November, 2006 within the jurisdiction of this Honourable Court did retain the control of proceeds of financial crime to wit: the sum of $2m on behalf of James Onanefe Ibori by transferring the said sum to Erin Aviation account in Mauritius through HYUNDAI HEAVY INDUSTRIES and which sum you knew was as a result of criminal conduct by the said James Onanefe Ibori.

 

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