Alleged N4.8bn Fraud: Again, Absence of Bizman, Cletus Ibeto Stalls TrialWale Igbintade

The scheduled arraignment of businessman, Chief Cletus Ibeto alongside his company, Ibeto Energy Development Company before the Lagos State High Court, Ikeja was, again stalled yesterday, due to the absence of the defendants in court

Ibeto, and his company were slammed with a 10-count charge bordering on allegations of obtaining by false pretence, fraudulent conversion of property, criminal breach of trust, forgery and deception by the Economic and Financial Crimes Commission (EFCC).
Apart from the duo, also included in the charges was another company linked to Ibeto, Odoh Holdings Ltd.
The charges against the defendants are currently pending before Justice Ismail Ijelu.

The court had at the last sitting adjourned to October 5, for the arraignment due to the defendants’ absence.
At the resumed hearing on October 5, 2023, the defendants’ counsel, Dr. Onyechi Ikpeazu, informed the court that ill health of Ibeto was the reason for his absence and pleaded for another adjournment of the matter.

The prosecutor, Rotimi Jacob, reacting to the absence of the defendants in court, reminded the judge that the case was adjourned at the last proceeding due to the absence of defendants.

He, however, reluctantly acquiesced to the defence counsel’s plea for adjournment to enable Ibeto be present in court.
Ibeto’s counsel informed the court that the defendants had already approached the prosecution for out of court settlement and that the process was ongoing.
After listening to the parties, the trial judge, Justice Ijebu frowned on the approach of the defendants noting that the court couldn’t assume jurisdiction on the case until the defendants submitted themselves for trial by appearing to take plea.

The judge reminded the defence counsel of Ibeto that the court had earlier adjourned the case thrice now at the instances of defendants, adding that if the defendants wanted to explore out of court settlement, they must first submit themselves for trial.

The court, however, further adjourned the case till November 3, for definite arraignment of Chief Cletus Ibeto and his companies.
Some of the charges against Ibeto and his companies state that the defendants obtained N2.5 billion from their victim as consideration for a non-existent 14.1 hectares of land while count three claimed that they forged certain land title documents.

Also, included was count three, where it was alleged that the defendants on or about January 30, 2018, allegedly with intent to defraud forged a Deed of Sublease between Odoh Holdings Ltd and Ibeto Development Ltd purportedly, registered as No 47, Page 47, Vol. 280 of the Lands Registry, Rivers State, wherein they claimed that Ibeto Energy Development Ltd and Odoh Holdings Ltd acquired leasehold interest in respect of 22.6536

The offences were contrary to Section 1 of the Advance Fee Fraud Act 2006, Section 365(3d) and (e), and Section 366 of the Criminal Law of Lagos State, 2015.