The Economic and Financial Crimes Commission (EFCC) has arraigned a former Group Executive Director of Harmony Investments and Property Development Company Limited, Adebayo Sanni, over an alleged N32.1 million money laundering scheme.
The anti-graft agency accused Sanni of engaging in financial transactions involving N32.1 million suspected to be proceeds of unlawful activities, contrary to the provisions of the Money Laundering (Prevention and Prohibition) Act.
The defendant was arraigned yesterday before Justice Awogboro of the Federal High Court in Ilorin, Kwara State, on a seven-count charge bordering on money laundering.
The EFCC alleged that Sanni handled funds believed to be proceeds of unlawful activities, thereby violating the relevant provisions of the Act.
When the charges were read to him, Sanni pleaded not guilty to all seven counts.
Following his plea, the prosecution urged the court to fix a trial date and remand him pending trial, while the defence made submissions on his behalf.
Justice Awogboro subsequently adjourned the case for further hearing and issued directives regarding the defendant’s bail and custody pending trial.
The EFCC said the prosecution forms part of its ongoing efforts to combat money laundering and other financial crimes across the country.