Rivers Rep arrested with $498,100 arraigned for alleged money laundering

Forum 1 year ago

Rivers Rep arrested with $498,100 arraigned for alleged money laundering

The police have arraigned a member of the House of Representatives for Port Harcourt City Local Government Constituency II, Chinyere Igwe, at the Federal High Court sitting in Port Harcourt for alleged money laundering.

Igwe was said to be arrested with 498,100 dollars during a stop and search operation at about 2:45 am on February 24, 2023.

The police said the suspect was apprehended close to the headquarters of the Independent National Electoral Commission (INEC) with a list for the distribution of the money.

His trial resumed in Court 4 at the Federal High Court in Port Harcourt, the capital of Rivers State on Wednesday.

The charge sheet dated March 6, 2023, read, “That you Hon. Chinyere Igwe ‘m’ on the 24th day of February 2023 at about 01:35hrs at No. 181 Aba Road, by GRA Junction, Port Harcourt within the Port Harcourt Magisterial District did accept cash payment of $498,000 USD which you have in your possession and did not make a report to the Central Bank of Nigeria and did not declare its transportation to the Nigerian Customs Service and thereby committed an offence contrary to Sections 1 (a), (1) (2) (3) of the Money Laundering (prohibition) Act, 2011 and punishable under Section 2 (5) of same Act.”

When the charge was read, Igwe pleaded not guilty to the charge and his legal representative made an application for bail but the police raised some objections.

The trial Judge, Justice Stephen Daylop-Pam, after listening to the arguments and submissions adjourned till 14th of March, 2023 for bail consideration.

He also directed that the accused person be sent to Nigerian Police Clinic for attention on a medical report about his health.