Court fixes June 13 for resumed hearing on Erastus Akingbola’s trial


A Federal High Court in Lagos has adjourned until June 13, the money laundering trial of a Managing Director of the defunct Intercontinental Bank Plc., Erastus Akingbola.

The case, which was slated for continuation of trial on Tuesday, was stalled over the absence of the judge who was said to be on another official assignment.

Akingbola was charged by the Economic and Financial Crimes Commission (EFCC) on an amended 22 counts bordering on money laundering.

He was re-arraigned in March.

The EFCC accused the defendant of converting an aggregate sums of 1.3 million dollars and 8.5 million dollars taken from the bank’s GBP NOSTRO account at Deutsche Bank in London.

The sums were said to have been remitted into the account of Fuglers Solicitors with the Royal Bank of Scotland in London, to purchase property in the name of Life Boat Settlement Trust allegedly set up by the defendant.

According to the prosecution, the defendant knew that the sums represented proceeds of crime.

Akingbola has pleaded not guilty to the charges.

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