Alleged Money Laundering: Court Quashes Charge Against MD, Shibahwells Energy, Isaac Adewole, Kingsley Ananwude
Magistrate A.O. Layinka of a Lagos State Magistrates Court sitting at Ogba, Ikeja has struck out money laundering chagres brought against Isaac Adewole, MD, Shibahwells Energy and a staff of Wema Bank Plc, Kingsley Ananwude for lack of merit.
Magistrate Layinka (Mrs.) discharged the defendants and struck out the charge following the Legal Advice from the Office of the Director of Public Prosecution (DPP), Lagos State that no prima facie case has been established against them.
Recalled that the defendants were arraigned in Court on February 9, 2022, in Charge No. MIK/B/6/2022–Commissioner of Police vs. Adewole Isaac & Kingsley Ananwude, for alleged stealing and money laundering involving N1.7billion.
After pleading not guilty, the Court granted the defendants bail and then adjourned the case till March 15, 2022, for trial.
On Tuesday March 15, 2022, when the case was mentioned in Court, Magistrate Layinka (Mrs.) discharged the defendants and struck out the charge for lack of Merit after relying on the Legal Advice from the Office of the DPP, Office of the Attorney General of Lagos State/Ministry of Justice.
In the Legal Advice signed by the DPP of Lagos State (a copy of which was sighted by our correspondent), the DPP after an extensive review of the duplicate case file provided by the police authority, stated that the defendants were arrested based on rumours by one Timi Popoola and nothing more.
The DPP further stated that there is insufficient evidence to predicate the offences upon which a criminal charge was brought before the Court.
Further investigations into the case by our correspondent revealed that the criminal charge of alleged stealing and money laundering involving N1.7billion were at the instance of one Timi Popoola.