BREAKING: Court convicts, sentences Maina to 8 years in prison
Justice Okon Abang of the Federal High Court in Abuja has sentenced Abdulrasheed Maina, former Chairman, Pension Reformed Task Team (PRTT), to eight years in prison after being found guilty of embezzlement of Pension funds amounting to N2.1billion.
Maina was arraigned before Justice Abang, on Oct. 25, 2019, by the EFCC alongside his firm, Common Input Property and Investment Ltd. on 12-count criminal charge.
In count one, five and eight, the Court held that Maina used his firm Common Input Investment and Properties Limited and the names Fatima Samaila (his sister) and Nafisatu Aliyu to open accounts at UBA plc and at Fidelity Bank where his younger brother, Khalid Aliyu Biu was a staff.
Another account was opened with the name Doctor Abdullahi Faisal at Fidelity Bank for the defendant.
OsmekNews gathered that the court maintained that the banks failed to do due diligence to establish the true identity of the owner of the bank accounts.
Maina allegedly opened the said accounts in these names to hide his true identity and is therefore found guilty of act of fraud.
He was therefore found guilty on Counts two, six and nine of opening anonymous and fictitious accounts to conceal his identity as the true signatory.
Huge funds were transferred to the five accounts operated by the defendant during his time as Chairman of the Pension Reforms Task Team.
Investigators were able to establish Maina’s links to the accounts through his phone number and email.
The Court also found him guilty of breaching Sections of the Money Laundering Act with respect to financial transactions, which requires maximum N5million for individuals and N10million for corporate bodies.
Maina had at two separate times used $1.4million and $2million dollar cash to purchase properties.
The prosecution brought nine witnesses during the trial, while the defendant was able to present one which the Court stressed did not help his case.
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