EFCC Arrest Scammer, A Malaysian Over Attempted 250m Euro Fraud In Lagos

Tan Ah Chai Richard

Lagos - Nigeria, alleged 250 million Euro fraud, a Malaysian male caught and arrested, remanded in Ikoyi prison.

The Economic and Financial Crimes Commission (EFCC), Lagos Zonal office, on May 22nd 2019, arraigned a suspected fraudster, Tan Ah Chai Richard, alongside his company, Coastal Asia Investments Limited, before Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos Nigeria, on a five count charge bordering on forgery, use of false document, conspiracy to forge and an attempt to obtain money by false pretense to the tune of Two Hundred and Fifty Million Euros (250,000,000.00m Euros).

One of the counts reads "That you, Tan Ah Chai Richard, Coastal Asia Investments Limited and Dr. Sawang Jana (still on the run), on or about the 27th September, 2018 at Lagos, within the jurisdiction of this Honorable Court, with intent to defraud, conspired to commit felony to wit: forgery of Swift Telex Advice dated 27th September, 2018, indicating transfer of the sum of 250 million euros to Coastal Asia Investments Limited account with Polaris Bank Plc (former

ly Skye Bank Plc) from HSBC Bank Plc, London, United Kingdom."

Another count reads: "That you, Tan Ah Chai Richard, Coastal Asia Investments Limited and Dr. Sawang Jana (still on the run), on or about the 27th September, 2018 at Lagos, within the jurisdiction of this Honorable Court, with intent to defraud, fraudulently used a false document to wit: a Swift Telex Advice dated 27th September, 2018, indicating transfer of the sum 250 million euros to Coastal Asia Investments Limited account with Polaris Bank Plc (formerly Skye Bank Plc), which you purported to be from HSBC Bank, London, United Kingdom by submitting the Swift Telex Advice to Chioma Omamegbe of Polaris Bank Plc (formerly Skye Bank Plc)."

The defendant, a Malaysian, pleaded "not guilty" to the charge preferred against him by the Commission.

In view of his plea, the prosecuting counsel, Bashir M. Kamil, asked for a trial date and also urged the court to remand the defendant in prison.

Counsel to the defendant, A.B. Onifade, told the court that he was served with the charge by the prosecution only on Tuesday, May 21, 2019 and that he would apply for the defendant's bail after the proceedings.

He therefore, urged the court to remand the defendant in the EFCC custody pending the determination of the case.

However, Kamil objected to the prayer of Onifade, stressing that the Commission's detention facilities were already overstretched.

Consequently, Justice Dada adjourned the case to June 28, July 2nd and 8th, 2019 for commencement of trial, and ordered that the defendant be remanded in Ikoyi prison.