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The money laundering trial of Mohammed Kuchazi, commercial director of Process and Industrial Development Limited continued on March 10, before Justice Zainab Abubakar of the Federal High Court with a prosecuting witness, Temitope Olubumi, disclosing that the defendant was offered a cut of the controversial P&ID contract.
Testifying as the 2nd prosecuting witness, PW2, Olubumi who is a Principal Compliance Officer with the Special Control Unit against Money Laundering, SCUML, on Thursday, March 10, 2022 told the Court that Kuchazi, who is also a shareholder of Kore Holdings Ltd, was entitled to $300m, being 3% of the contract that was never executed.
The witness further disclosed that SCUMLโs investigation of Kore Holding Limited indicated that it was in breach of statutory regulations.
โI received a letter from the Economic and Financial Crimes Commission, EFCC, requesting the details and compliance status of Kore Holdings Ltd with regards to the Money Laundering Prohibition Act, 2011. In the course of the investigation, we found that the company had no statutory declaration with the Ministry of Industry, Trade and Investment. We also went to its registered location but discovered that the company does not exist,โ he said.
Justice Abubakar adjourned the case till June 7, 2022 for continuation of trial.
