Wonder banker arraigned for N60m fraud

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The Economic and Financial Crimes Commission, EFCC, has arraigned one Daniel Hylampa Ngadda alongside his company, Adags Universal Trading Limited before Justice J. Y Tukur of the High Court of the Federal Capital Territory, Apo, Abuja on a six count charge bordering on fraud, breach of trust and obtaining money by false pretence.

The accused was alleged to have fraudulently obtained the sum of N55.7 million and another $20,000.

The accused who is the Managing Director of Adags Universal Trading Limited, is alleged to have used the complainant, Jasini Bello who was his employee, to dupe his victims by asking them to invest in his company with a promise of earning 50 per cent interest monthly on their investment for a period of one year, while half of the initial investment will be refunded at the end of the contract.

The accused however pleaded not guilty when the charges were read to him the trial judge adjourned the case to December 4, 2013 for hearing on bail application while the accused is remanded in Kuje prison.

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