The Economic and Financial Crimes, EFCC, on Friday, June 29, 2018, arraigned Clement Faboyede, the chairman of the Ondo State Peoples Democratic Party, PDP, for an alleged fraud of N500 million. This charge is connected with campaign funds received from the headquarters of the PDP during the 2015 general elections.
Faboyede was arraigned alongside Modupe Adetokunbo before the Federal High Court in Lagos.
The three charges pressed against them border on conspiracy and money laundering.
The EFCC claimed in the charges that Faboyede and Adetokunbo received a cash sum of N500 million from one Owolanke Michael in the build-up to the 2015 general election.
Faboyede was accused of making N500 million cash payment to the Ondo State Election Committee of the PDP.
Ekene Iheanacho, the prosecuting counsel for the EFCC, said the defendants committed the offence on March 27, 2015, adding that they acted contrary to Section 18 of the Money Laundering (Prohibition) Act, 2011 and are liable to punishment under Section 16(2) of the same Act.
But upon their arraignment on Friday, June 29, 2018, before Justice Saliu Saidu, Faboyede and Adetokunbo pleaded not guilty.
The judge, while adjourning the case till September 17, 2018, ordered that the defendants should be remanded in the prison custody.
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