Court Remands Ex-Ondo PDP Chair, Faboyade Over Alleged N500m Fraud
Justice Saliu Saidu of the Federal High Court in Lagos on Friday remanded a former Chairman of the Peoples Democratic Party (PDP) in Ondo State, Clement Faboyede in prison after he was arraigned before the court by the Economic and Financial Crimes Commission (EFCC) for an alleged N500 million fraud.
According to the anti-graft agency, claimed the two accused persons received a cash sum of N500 million from one Owolanke Michael in the build-up to the 2015 general election.
The commission also claimed that Faboyede made a N500 million cash payment to the Ondo State Election Committee of the PDP.
The prosecuting counsel, Ekene Iheanacho claimed that the accused persons committed the offence on March 27 , 2015 and that the offence is contrary to Section 18 of the Money Laundering (Prohibition ) Act , 2011 and are liable to punishment under Section 16 (2 ) of the same Act .
The two accused persons, however, pleaded not guilty to the charge.
Justice Saidu has fixed September 17 for the commencement of trial.
 in Ondo State, Clement Faboyede in prison){kind=link}