UPDATED: P&ID representatives plead guilty to fraud and tax evasion charges

The Economic and Financial Crimes Commission (EFCC) has arraigned two representatives of the British Firm – Process and Industrial Developments Ltd (P&ID) on 11 counts charges.

The representatives pleaded guilty before the Federal High Court in Abuja to the charges levelled against them in relation to the contract leading to the recent controversial $9.6 billion court judgment given by a British court against the Nigerian Government.

The firms, P&ID Ltd in British Virgin Island, and P&ID Nigeria Limited were represented by the Commercial Director, Mohammad Kuchazi and a lawyer, Adamu Usman respectively.

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They were alleged to have fraudulently claimed to have acquired land from the Cross River State Government in 2010 for the gas supply project agreement that resulted in the $9.6 billion judgment.

They also pleaded guilty to another count of obtaining land from the state government with the intent to defraud, as well as the count for conspiring with certain individuals to commit a felony by dealing with petroleum product without the appropriate license.

More details: After both men representing the firms pleaded guilty to all the 11 counts read to them before Justice Inyang Ekwo on Thursday, Ekwo stated that the firms had admitted to the crime and so there was no other option than to rule against them.

An EFCC investigator, Usman Babangida, was called to the witness box for review of facts, none of which was opposed by the defence. Also, evidence was brought up in the form of documents relating to the controversial 2010 gas supply contract and EFCC’s investigation activities.

[READ ALSO: FG bows to pressure, ready to negotiate with P&ID firm over $9 billion U.K judgement]

Following the provisions of section 19(2) of the Money Laundering Prohibition Act, 2011, and section 10(2) of the Advance Fee Fraud and other related offences Act, 2006, the court went on to pronounce the firms guilty and ordered the Federal Government to wind up the firm’s assets and confiscate their properties in the country.