The Federal High Court has remanded the popularly known auto dealer of 606 Autos, Sarumi Babafemi in custody for money laundering of N207.1M between 2013 and 2018.
Babafemi, alongside his companies – 606 Autos Limited; 606 Music Limited; and Splash Off Entertainment Limited – was arraigned by The Economic and Financial Crimes Commission on five counts before the court.
He was accused of transferring N37.6m to one Omojadesola Allison; N93m to one Olanrewaju Oriyomi; N1.5m to one Abiola Ayorinde, alias ABK; N25m to one Bartholomew Ezeudoka; and N50m to one Amobi Uchenna.
The EFCC said 606 ought to have reasonably known that such funds form part of an unlawful act, to obtaining money by false pretence.
The prosecuting counsel for the EFCC, Mr Anselm Ozioko said 606 and his companies acted contrary to Section 15(2)(b) of the Money Laundering (Prohibition) Act 2011 (as amended) and were liable to be punished under Section 15(3) of the same Act.
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Meanwhile, Sarumi and his companies pleaded not guilty when the charges were read to them.
The Defence counsel, Dr Muiz Banire (SAN), told Justice Chukwujeku Aneke that he had filed an application for his client’s bail and had served it on the prosecution.
Banire, who said the offence was bailable, urged the court to grant bail to his client in liberal terms.
But the prosecutor, Ozioko, urged Justice Aneke to decline the bail application based on the defendant’s antecedents.
Ozioko said the charges against 606 were informed by intelligence from the American Federal Bureau of Intelligence.
He told the judge that there was another charge against 606 pending before another court.
Justice Aneke adjourned till November 4, 2019, to rule on the bail application.
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