Wonder bank owner in Enugu remanded in prison for alleged N600m fraud

From PETRUS OBI, Enugu

An Enugu Federal High Court yesterday remanded a prominent lawyer and Chief Executive of Karchack Services Limited, Mr Christian Chukwudozie Ebuzoeme in prison custody for alleged fraud. The laywer is alleged to have conspired with one Amaechi Okoye (now at large) to advertise for money deposits without having banking licences.

He was arraigned before the court by the Economic and Financial Crimes Commission (EFCC) on a three-count charge bordering on intent to obtain money by false pretences. Counsel to the EFCC, Johnson Ojogbane had prayed the court to withdraw his earlier charge dated November 7, 2012 to pave way for the new three-count charge.

Counsel to the accused person, J. Agha did not object to the application but urged the court to allow him argue his client’s bail application.

But the presiding judge, Justice Mohamed Shaibu refused to grant the request for argument on the bail application on the ground that it was not properly filed before the court. Justice Shaibu subsequently, adjourned the case to November 21 for trial and remanded the accused person in prison custody.

A press statement issued by the EFCC had earlier disclosed that Ebuzoeme, a native of Ojoto, in Idemili South Local Government Area of Anambra State who doubles as the Chief Executive Officer (CEO) of Karchack Services Limited would be docked for allegedly defrauding innocent citizens of their hard earned money through a phoney investment scheme involving over N600million.

The release, which was signed by Wilson Uwujaren, the acting Head, Media and Publicity said that Mr Ebuzoeme and his accomplice, Mr. Amaechi Okoye ( still at large ) through Kachack Services Limited located in New Haven, Enugu, for three years mobilised deposits from unsuspecting members of the public using the promise of mouth watering returns on investment over specific periods as bait. “

At the beginning, a few of the investors were paid dividends which helped swayed them to plough in more resources and equally convinced others to join the fray. But the flow of dividends soon dried up. After several months of being unable to pay their investors, the two partners, Ebuzoeme and Okoye, split the company.

“Okoye continued to manage the business of Karchack Services Limited while Ebuzoeme moved on to establish Yardenit Limited but the operations were still the same. They continued to defraud unsuspecting Nigerians through bogus promises that were never fulfilled.

“While the investors were left clutching at straw, Ebuzoeme and his partner in crime, Okoye continually smiled to the bank and expanded their business to new frontiers in China and South Africa.”