Anambra Court slams 14-year sentences on Orient Petroleum MD, others over N25bn fraud
EFCC
Abdullateef Fowewe
Justice O. M. Anyachebelu of the Anambra State High Court has convicted and sentenced Engineer Nnaemeka Nwawka, Managing Director of Orient Petroleum Resources Plc, Jude Anniekwe Cyril, and the Registered Trustees of Sage Nebeife Foundation to 14 years imprisonment each for stealing, conversion, and gratification totalling N25 billion.
The trio according to a statement obtained from EFCC on Friday were found guilty on ten counts after a decade-long trial sparked by the Economic and Financial Crimes Commission (EFCC).
They pleaded not guilty, leading EFCC counsel Victor Ukagwu to present four witnesses and 24 documentary exhibits (marked P1 to P24).
Evidence revealed how Nwawka awarded suspicious contracts to friends’ companies, funneled payments back through his foundation, and withdrew funds for personal use.
Count one of the charges stated: “That you NNAEMEKA NWAWKA, JUDE ANNIEKWE CYRIL and THE REGISTERED TRUSTEES OF SAGE NEBEIFE FOUNDATION sometimes between 23rd April to 21st December, 2012… fraudulently converted to your personal use the aggregate sum of N82,856,934 which sum was transferred from Vhelbherg International Limited company account into the account of Sage Nebeife Foundation.”
Count two added: “That you NNAEMEKA NWAWKA, JUDE ANNIEKWE CYRIL and THE REGISTERED TRUSTEES OF SAGE NEBEIFE FOUNDATION sometimes between 8th January to 24th May, 2013… fraudulently converted to your personal use the aggregate sum of N29,620,733.”
Despite defenses from Senior Advocates U. N. Udechukwu (for Nwawka and the foundation) and E.S.C. Obiora (for Cyril), Justice Anyachebelu ruled the prosecution proved its case beyond reasonable doubt.
The court ordered Nwawka and the foundation to refund N140.9 million to Orient Petroleum Resources Plc.
The case originated from a petition by investor Chief Cletus Ibeto, who alleged he invested N25 billion in the company, only for Nwawka to siphon most of it via “bogus contracts” to cronies’ firms and his foundation.
