$42.2m fraud: Court insists on Indians, Briton’s extradition

The Federal High Court in Lagos has dismissed applications filed by two Indian nationals, Prem Garg and Devashish Garg, along with a British national, Marcus Wade, seeking to quash a bench warrant issued for their arrest and extradition.

Justice Akintayo Aluko, in his, ruling on Monday held that the applications lacked merit as they were unable to present any convincing reason to set aside the arrest and extradition orders.

The trio were accused of defrauding Ecobank Plc to the tune of $42.4m, in a fraudulent rice importation scheme.

The two Indians and the Briton, who are linked to two companies, Agrico Agbe Limited (Nigeria) and Wilben Trade Limited (Dubai), were charged by the office of the Attorney-General of the Federation with conspiracy and cheating under Sections 421 and 422 of the Criminal Code Act, Cap C38 Laws of the Federation of Nigeria, 2004.

They are facing charges over an alleged fraudulent transaction that took place sometime in May and September 2015, where the defendants reportedly obtained the sum of $42,485,900 from Ecobank Plc under the pretence of using the funds to purchase and import parboiled rice into Nigeria.

In one of the charges against the defendants, Prem Garg and Devashish Garg, both of Indian nationality, Agrico Agbe Limited, Wilben Trade Limited, Dubai, and Marcus Wade of British nationality,  were said to have sometime in May and September 2015 at Ecobank Plc, Lagos, conspired to commit the alleged offences.

The AGF also alleged that the defendants sometime in May and September 2015 at Ecobank Plc Lagos cheated by making Ecobank Plc deliver funds to the tune of $42, 485, 900, which was intended by contract for the purchase and import into Nigeria India parboiled rice but never utilised the sum of money for the contract.

The defendants, however, failed to appear in court to enter their pleas, prompting the AGF, through its counsel, Dr. Pius Ukeyima Akutah, to seek a bench warrant and possible extradition.

The court, presided over by Justice Aluko, granted the application in November 2023.

In response, the defendants, represented by  Dele Belgore (SAN) and Dada Awosika, (SAN), filed motions to quash the arrest and extradition orders.

 The AGF, represented by Mrs. Kehinde Bode-Ayeni, who took over the case from Dr. Akutah, opposed the applications.

Delivering his ruling on Monday Justice Aluko stated, “After carefully reviewing all the submissions and authorities cited, I find that the applications filed by the defendants lack merit.

“The defendants have failed to present any convincing reason to set aside the arrest and extradition orders.

“There is no merit in the applications filed by the defendants. The two applications lack merit and are hereby dismissed.”

The judge subsequently adjourned till October 24, 2024, for further report and proceedings.