Trial in IGP’s fraud allegations against businessman begins Oct 3

Trial in a class action suit filed by some complainants through the Inspector-General of Police against Mr Akintoye Akindele, the former Managing Director of Duport Midstream Company Limited, Atlantic Refineries, and Chairman of Platform Capital, is scheduled to commence on October 3, 2024, in Lagos.

A statement by Mr. Lere Olayinka, the spokesman for the complainants, explained that the trial was moved from Abuja to Lagos in May this year and will begin at the Federal High Court in Lagos on October 3.

Justice James Kolawole Omotosho of the Federal High Court in Abuja had on May 9, 2024, ordered that Akindele’s trial in an alleged $5.6 million fraud be transferred to the Lagos division of the court.

Akindele and his company are standing trial on a four-count charge involving the alleged diversion of $5,636,397.01 and N73,543,763.25 belonging to Summit Oil International Ltd, founded by the late Chief Moshood Abiola. They are also facing further prosecution for alleged bribery and attempts to obstruct the police investigation.

On March 1 of this year, a Federal High Court in Abuja had ordered that Akindele be remanded at the Kuje Correctional Centre in Abuja. Justice James Omotosho ruled that he should remain in custody until March 20, when the court would review documents confirming the perfection of the bail previously granted.

In the suit marked FHC/ABJ/CR/570/2023, brought by the Inspector-General of Police against Akindele and Duport Midstream Company Limited, the alleged offenses were said to have occurred between 2017 and 2021, during which they allegedly converted sums received from a major oil company for personal use.

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In the four-count charge brought against him by the police prosecution team led by Simon Lough (SAN), Akindele is accused of “stealing by conversion of $5,636,397.01 and N73,543,763.25,” among other crimes.

Speaking on behalf of those affected by the alleged offenses who have gone to court, Lere Olayinka stated that more than 20 notable Nigerians signed up for the class action suit against the Lagos-based businessman. He noted that they united after one of the victims initiated the process and set up a WhatsApp platform to coordinate the other victims.

A class action allows one or more individuals (plaintiffs) to sue on their own behalf and on behalf of others (the class) who have a similar claim for a remedy for the same or similar alleged wrong.