Former Megastar Technical and Construction Company chief accountant and four others remanded in custody over alleged money laundering and fraud

A former chief accountant of Megastar Technical and Construction Company Limited, Chinedu Akandu, and four others have been remanded in custody by the Federal High Court in Port Harcourt, Rivers State, over alleged conspiracy, money laundering, and obtaining money under false pretences.

Andrew Odibenua, Calistus Madu, Abiola Allison, and Okpeva Elija, who are also said to be former employees of the company, were arraigned by the Port Harcourt Zonal Command of the Economic and Financial Crimes Commission (EFCC) on March 15, 2023. They were charged with 14 counts related to the allegations, which they all pleaded not guilty to.

The prosecution counsel requested a trial date and for the defendants to be remanded, a request which was granted by Justice Ajoku. The matter was adjourned to April 26, 2023, for hearing of bail applications and June 19, 2023, for the commencement of trial.

The case arose after a petition was received by the EFCC, alleging illegal and unapproved transactions carried out on the company’s account without approval. Investigation revealed that the defendants conspired to defraud the company and laundered the proceeds for their personal gain.