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Chinese National Remanded in Lagos for Alleged N301m Fraud

Published by Tope Fakinlede on November 15th, 2024.

Chinese National Remanded in Lagos for Alleged N301m Fraud

A Chinese national, Zhengjia Jin, has been remanded in custody at the Ikoyi Correctional Centre in Lagos for allegedly defrauding his employer of N301 million. The decision was made by Justice Rahman Oshodi at the Ikeja Special Offences Court on Thursday, following Jin’s arraignment.

Jin, who was charged by the Economic and Financial Crimes Commission (EFCC) on four counts, including theft, bribery, and retention of stolen property, pleaded not guilty to the charges. According to the EFCC, the alleged crimes occurred between March 5 and August 9, 2024, in Lagos.

Prosecution counsel, Mr. Ahmad Usman, told the court that Jin unlawfully retained the sum of N301 million in his Access Bank account, which belonged to his employer, Golden Diamond Industrial Manufacturing Company Limited. Usman explained that the money was allegedly obtained as kickbacks from vendors while Jin was employed at the company, thus violating the terms of his employment.

The prosecutor further claimed that Jin dishonestly converted the N301 million, which was the property of his employer, for personal use. The charges brought against him are said to contravene several sections of the Criminal Laws of Lagos State, including Sections 328 and 83 of the 2011 Criminal Law, as well as Sections 280 (2) and 287 of the 2015 Criminal Laws of Lagos State.

Jin’s defense counsel, A.C. Ezenduka, informed the court that a bail application had been filed on behalf of the defendant, but the prosecution stated they had not yet been served with the application. Justice Oshodi subsequently ordered that Jin be remanded in the Ikoyi Custodial Centre until his bail hearing.

The judge scheduled the hearing of the bail application for November 22, 2024, and adjourned the case to January 10, 2025, for the start of the trial.