Two senior officials of Telecom Satellites Limited (TSTV) – Bright Ikechukwu Echefu and Felix Nnamdi Igboanuga, were on Thursday, June 6, arraigned before a Federal High Court in Abuja on charges bordering on tax evasion, money laundering and advanced fee fraud.

Echefu, described as the managing director and chief executive officer of the firm and Igboanuga, said to be TSTV’s executive director, pleaded not guilty when the nine-count charge was read to them.

The duo was arraigned with their firm (TSTV) and another company, Briechberg Investment Limited, on the charge marked: FHC/ABJ/CR/254/2023 filed by the Economic and Financial Crimes Commission (EFCC).

After the defendants pleaded to the charge, prosecuting lawyer, Sylvanus Tahir (SAN) sought a date for the commencement of trial.

Defence lawyer, Eyitayo Fatigun (SAN) applied for bail for the defendants, to which Tahir objected.

Tahir stated that the Echefu and Igboanuga were a flight risk, having allegedly evaded arrest before now.

Responding, Fatigun faulted the prosecuting lawyer’s claim, noting that the EFCC had, by itself, granted the two defendants administrative bail.

Ruling, Justice Inyang Ekwo adopted the conditions attached to the administrative bail earlier granted them by the EFCC.

Justice Ekwo restrained them from travelling abroad without the permission of the court.

The judge ordered them to surrender their international passports and directed that the Nigerian Immigration Service (NIS) must be notified of the seizure of the passports.

He cautioned that any breach of the bail conditions or absence from court would automatically lead to the revocation of the bail granted them.

Justice Ekwo directed the EFCC to transmit the records relating to the administrative bail to the court within seven days.

He adjourned till July 15 for the commencement of trial.

Counts in the charge sheet read:

*That you Dr. Bright Ikechukwu Echefu, being the MD/CEO of Telcom Satellites Limited [TSTV), Felix Nnamdi Igboanuga, being the Executive Director of Telcom Satellites Limited (TSTV) on or about the 18th day of May 2020 in Abuja did agree with yourselves to commit an offence of money laundering to wit; tax evasion, unremitted VAT, and Company Income Tax and Pay As You Earn (PAYE] deducted from the salaries of 165 staff and thereby committed an offence contrary to the Money Laundering (Prohibition) Act, 2011 (as amended in 2012) and punishable under Section 15(3) and (4) of the same Act.

*That you Dr. Bright Ikechukwu Echefu, being the MD/CEO of Telcom Satellites Limited (TSTV), Felix Nnamdi Igboanuga being the  Executive Director of Telcom Satellites Limited (TSTV) and on or about the 18th day of May 2020 in Abuja did take possession or control of the sum of N33,909,542.47 for unremitted Company Income Tax, which fund you knew or reasonably ought to know that the said fund formed part of the proceeds of an unlawful act to wit: Tax Crime relating to the proceeds due and payable as Company Income Tax to the Federal Government of Nigeria for transaction carried out within the Telcom Satelites Limited (TSTV) pursuant to the provisions of the Companies Income Tax Act 2007 and thereby committed an offence contrary to section 15(2)(d) of the Money Laundering (Prohibition) Act 2011 (as Amended in 2012) and punishable under Section 15 (3) and (4) of the same Act.

*That you Dr. Bright Ikechukwu Echefu, being the MD/CEO of Telcom Satelites Limited  (TSTV), Felix Nnamdi Igboanuga, being the Executive Director of Telcom Satelites Limited (TSTV) and on or about the 18th day of May 2020 in Abuja within the Jurisdiction of this Honourable Court did fake possession or control of the sum of N13,519,382.00 ( for unremitted Value Added Tax (VAT), tax crime relating to the proceeds due and payable as Valve Added Tax to the Federal Government of Nigeria for Telcom Satellites Limited (TSTV) pursuant to the provisions of the Valve Added Tax Act 2004 and thereby committed an offence contrary to section 15(2)(d) of the Money Laundering (Prohibition) Act 2011 (as amended in 2012) and punishable under Section 15 (3) and (4) of the same Act.

*That you Dr. Bright Ikechukwu Echefu, being the MD/CEO of Telcom Satelites Limited (TSTV), Felx Nnamdi Igboanuga, being the Executive Director of Telcom Satelites Limited (TSTV)  on or about 18th day of May, 2020 in Abuja did take possession or control of the sum of N19,488,.860.00 for unremitted PAYE Tax (Pay As You Earn), tax crime relating to the proceeds due and payable as PAYE Tax to the Federal Government of Nigeria for the deduction from the salaries of 165 staff of the Telcom Satellites Limited (TSTV) pursuant to the provisions of the PAYE ACT 2004 and thereby committed an offence contrary to section 15(2)(d) of the Money Laundering (Prohibition) Act 2011 as Amended in 201 2and punishable under Section 15 (3) and (4) of the same Act.

*That you Dr. Bright Ikechukwu Echefu, being the Managing Director, Briechberg Investment Ltd and Briechberg Investment Ltd on or about the 18th day of May 2020 in Abuja, with intent to defraud, did obtain the sum of N150,000,000.00 from Turaki Kabiru Tanimu (SAN), MD of Kalsiyam Farm, paid into Briechberg Investment Ltd Account No. 1015561485 domiciled with Zenith Bank Pic under the false pretence, representing loan advance fo Telcom Satelites for the purpose of enhancing the acquisition of modern technology, which you knew to be false and misappropriated and converted the said money to your personal use and thereby committed an offence contrary to Section 1(1)(a)(b) of the Advance Fee Fraud and other Fraud Related Offences, Act, 2006 and punishable under Section 1(3) of the same Act.

*That you Dr. Bright Ikechukwu Echefu, being the Managing Director, Briechberg Investment Ltd and Briechberg Investment Ltd on or about 18th day of May 2020 in Abuja with intent to defraud, did obtain the sum of N380.000,000.00) { from Turaki Kabiru Tanimu (SAN), MD of Kalsiyam Global paid into Briechberg Investment Lid Account No. 1015561 485 domiciled with Zenith Bonk Pic under the false pretence representing loan advance to Telcom Satelites for the purpose of enhancing the acquisition of modern technology which you knew to be false and misappropriated and converted the said money to your personal use and thereby committed an offence contrary to Section 1(1)(a)(b) of the Advance Fee Fraud and other Fraud Related Offences Act, 2006 and punishable under Section 1(3) of the same Act.

*That you Dr. Bright Ikechukwu Echefu being the Managing Director, Briechberg Investment Ltd and Briechberg Investment Ltd on or about the 18th day of May 2020 in Abuja with Intent to defraud did obtain the sum of N400,000,000.00 from Turaki Kabiru Tanimu (SAN) MD of BYI General paid into Briechberg Investment Ltd Account No. 1015561485 domiciled with Zenith Bank Pic under the false pretence representing loan advance to Telcom Satellites for the purpose of enhancing the acquisition of modern technology which you knew to be false and misappropriated and converted the said money to your personal use and thereby committed an offence contrary to Section 1(1)(a)(b) of the Advance Fee Fraud and other Fraud Related Offences, Act, 2006 and punishable under Section 1(3) of the same Act.

*That you Dr. Bright Ikechukwu Echefu being the Managing Director, Briechberg Investment Ltd and Briechberg Investment Ltd on or about the 18th day of May 2020 in Abuja with intent to defraud did obtain the sum of N15,000,000.00  from Turaki Kabiru Tanimu (SAN) paid into Briechberg Investment Ltd Account No. 1015561485 domiciled with Zenith Bank Plc under the false pretence representing loan advance to Telcom Satellite for the purpose of enhancing the acquisition of modern technology which you knew to be false and misappropriated and converted the said money to your person and thereby an offence contrary to Section 1(1)(a)(b) of the Advance Fee Fraud and other Fraud Related Offences, Act, 2006 and punishable under Section 1(3) of the same Act.

*That you Dr. Bright Ikechukwu Echefu being the Managing Director, Briechberg Investment Ltd and Briechberg Investment Lid on or about 18th day of May 2020 in Abuja within the Jurisdiction of this Honourable Court with intent to defraud did obtain the sum of N15.000,000.00 from Turaki Kabiru Tanimu (SAN), MD of K.T Turake paid into Briechberg Investment Ltd Account No.1015561485 domiciled with Zenith Bank Pic under the false pretence representing loan advance to Telcom Satellites for the purpose of enhancing the acquisition of modern technology which you knew to be false and misappropriated and converted the said money to your personal use and thereby committed an offence contrary to Section 1(1)(a)(b) of the Advance Fee fraud and other Fraud Related Offences, Act, 2006 and punishable under the same Act.

Source: The Nation