A Federal High Court in Lagos on Friday remanded in Correctional Services custody the Managing Director and Chief Executive Officer of 606 Autos Ltd Sarumi Babafemi following his arraignment for alleged N206million fraud.
Justice Chukwujeku Aneke made the order after Babafemi, alongside his companies – 606 Autos Ltd; 606 Music Ltd; and Splash Off Entertainment Limited pleaded not guilty to a five-count charge of money laundering.
According to the Economic and Financial Crimes Commission (EFCC), Babafemi, popularly known as 606, is an accomplice of some of the 77 Nigerians indicted for cybercrime in the United States following a Federal Bureau of Investigation (FBI) investigation.
The EFCC accused the defendant of laundering a total of N207.1m between 2013 and 2018.
He allegedly transferring N37.6m to one Omojadesola Allison; N93m to one Olanrewaju Oriyomi; N1.5m to one Abiola Ayorinde, alias ABK; N25m to one Bartholomew Ezeudoka; and N50m to one Amobi Uchenna.
The EFCC said 606 “ought to have reasonably known that such funds form part of an unlawful act, to wit: obtaining money by false pretence.”
EFCC counsel Mr A.B.C. Ozioko, said 606 and his companies acted contrary to Section 15(2)(b) of the Money Laundering (Prohibition) Act 2011 (as amended) and were liable to be punished under Section 15(3) of the same Act.
The defendants pleaded not guilty
Defence counsel, Dr Muiz Banire (SAN), told the judge that he had filed an application for his client’s bail and had served it on the prosecution.
Banire, who said the offence was bailable, urged the court to grant bail to his client in liberal terms.
But Ozioko opposed him. He prayed the court to decline the bail application based on the defendant’s antecedents.
Ozioko said the charges against 606 were informed by intelligence from the FBI
He told the judge that there was another charge against 606 pending before another court.
Justice Aneke adjourned till November 4, 2019 to rule on the bail application.
He remanded 606 till then.
