The Attorney General of the Federation has in consideration of a police investigation report indicted Wilben Trade Limited Dubai, Marcus Wade and three others in a five counts charge for conspiracy, obtaining by false pretense, cheating and criminal conversion in charge number FHC/L//562C/2022, dated October 7, 2022, before the Federal High Court, Lagos.
Having heard a motion for the issuance of warrant of arrest in first instance moved by the prosecuting counsel the Presiding Judge, Hon. Justice Akintayo Aluko, considered it deserving and granted the warrants for the arrest of Marcus Wade, Prem Garg and Devashish Garg with the view to and for the purpose of their extradition to enable them stand trial in Nigeria.
From the information available to our Correspondent, Wilben Trade Limited Dubai and its founder conspired, aided and abetted the fraud against Ecobank Nigeria when it willfully and deliberately communicated to the Bank that the commodities for which the letter of credit was established have being supplied and shipped to Nigeria while knowing or having reason to know that there was no such commodity shipped to Nigeria.
Furthermore, Marcus Wade caused a mail to be forwarded to Ecobank Nigeria to honor its credit to tune of $20M on a Standby Letter of credit knowing fully well that no commodity was on transit to Nigeria to the benefit of Ecobank Nigeria from Prem Garg and the trio.
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