By Henry Ojelu
A Federal Excessive Court docket sitting in Lagos has adjourned additional listening to within the felony trial of a British nationwide, two Indian businessmen, and their firms accused of orchestrating a $42.48 million worldwide commerce fraud below the guise of rice importation.
Justice Akintayo Aluko fastened January 27, 2026, for continuation of proceedings after the prosecution and defendants failed to look in court docket.
The defendants, Marcus Wade, a Briton and chairman of Wilben Commerce Restricted, Dubai; Prem Garg and Devashish Garg, each Indian nationals, are standing trial alongside Wilben Commerce Restricted, Dubai and Agrico Agbe Restricted, Nigeria.
They’re being prosecuted by the Workplace of the Lawyer-Basic of the Federation, AGF.
In response to the cost marked FHC/L/562C/2022, the defendants allegedly conspired in 2015 to acquire $42,485,900 below the pretext of utilizing it for the acquisition and importation of Indian parboiled rice into Nigeria.
Prosecutors allege that the funds have been by no means used for the meant contract however have been diverted for different functions.
The offences, in response to the cost, contravene Sections 421 and 422 of the Legal Code Act, Cap C38, Legal guidelines of the Federation of Nigeria, 2004.
On the final listening to, defence counsel A.A. Akinteye instructed the court docket that the prosecution had requested an adjournment, explaining that the federal government’s lawyer was engaged on the Court docket of Attraction.
He due to this fact utilized for an additional date for continuation of listening to.
The case has witnessed repeated adjournments because it was filed, largely as a result of failure of the international defendants to look in court docket.
Justice Aluko had in earlier rulings dismissed a number of functions by the defendants searching for to quash the fees, halt their arraignment, or vacate the bench warrant issued for his or her arrest.
Two legal professionals, Ademola Abayomi and Victor Adunwa, representing Zenith Financial institution, Warranty Belief Financial institution (GTB), and Citi Financial institution, knowledgeable the court docket that not one of the defendants or their firms maintained accounts with the listed monetary establishments.
Their submission adopted a earlier freezing order issued towards the defendants’ accounts.
The alleged fraud dates again to transactions carried out between Could and September 2015, when the accused individuals purportedly entered right into a contract to import rice however allegedly diverted the $42 million facility meant for the transaction.
The court docket has now adjourned the matter to January 27, 2026, for additional listening to, with expectations that the defendants will seem to take their pleas.
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