The Economic and Financial Crimes Commission, EFCC has arraigned one Yusuf Ibrahim Karakai before Justice M Tukur of State High Court Kaduna on a one count charge bordering on criminal breach of trust, misappropriation of funds and obtaining money by false pretence.
Karakai's invitation to the Commission was prompted by a petition received against him alleging that he approached the complainant with a proposal to partner with him in floating a Bureau de Change outfit.
The petitioner and one other invested a total sum of N10,173,000.00 (Ten Million, One Hundred and Seventy Three Thousand Naira) only over a span of two years.
And it was after the accused received the stated sum that he disappeared from sight.
The count charge reads: "That you Yusuf Ibrahim Karakkai sometime in 2012 in Kaduna Within the Kaduna judicial Division of High Court of Kaduna State while operating a Bureau de change business (trading in foreign currency) and in such capacity entrusted with Dominion over the sum of N10,173,000.00 (Ten million One Hundred and Seventy Three Thousand Naira) only, belonging to one Bashir Ibrahim Isah and thereby committed criminal breach of trust by misappropriating the money in violation of the mode in which such trust is to be discharged and thereby committed an offence contrary to Section 311 of the Penal Code Law punishable under Section 312 of the same Law".
He pleaded not guilty to the charge against him and the prosecution counsel, Sa'ad Hanafi urged the court to fix a date for commencement of trial while the defence AbdulRauf Atiku Esq asked for the accused to be granted bail.
Justice Tukur however granted bail to accused in the sum of N1,000,000 (One Million Naira) with a surety who should have a landed property, C of O and evidence of tax clearance. The case is adjourned to 6th December, 2018 for commencement of hearing.
Media & Publicity
6th November, 2018
6th November, 2018