Alleged N13bn Fraud: Court orders arrest of Airline MD
The Federal High Court sitting in Abuja, on Monday, issued a warrant for the arrest of the Managing Director, MD, of Dana Air, Mr. Hathiramani Ranesh, who is facing a criminal charge over his alleged complicity in a N13billion fraud.
Justice Obiora Egwuatu ordered the defendant’s arrest following his alleged refusal to appear before the court to enter his plea to a six-count charge the Federal Government preferred against him.
The arrest order was anchored on section 184 of the Administration of Criminal Justice Act (ACJA), 2015.
“The 1st defendant is bound to appear before the court and if he does not, the court can issue warrant for his arrest.
“Accordingly and relying on provision of the law, I, hereby, issued a warrant for the arrest of the 1st defendant.
“The defendant shall appear before this court on 13th of January, 2025, before any objection can be taken,” Justice Egwuatu held.
Even though the defendant had failed to appear for his trial, he, however, briefed a lawyer, Mr. B. Ademola-Bello, to file a preliminary objection to challenge the competence of the charge against him and the jurisdiction of the court to entertain it.
FG had through its lawyer, Mojisola-Okeya Esho, prayed the court to issue a bench warrant for the arrest of the defendant.
It contended that the court could not hear the preliminary objection without firstly entering his plea to the charge against him.
FG, in the charge marked: FHC/ABJ/CR/101/2021, cited Ranesh, Dana Group PLC and Dana Steel Ltd, as 1st to 3rd defendants, respectively.
The defendants and others at large were alleged to have committed a felony between September and December 2018, within the premises of DANA Steel Rolling Factory in Katsina.
They were further alleged to have conspired to remove, convert and sell four units of industrial generators “i.e. three (3) units Ht of 9,000 KVA and 1 unit of 1,000 KVA; all valued at over N450 million, which form part of the Deed of Asset Debenture that were charged as collateral security for a bond issued in your favour, which Deed is still subsisting at all material times.”
In another count of the charge, it was alleged that the defendants and others at large, at House No. 116, Oshodi-Apapa Expressway, Isolo-Lagos, between April 7th and 8th, 2014, conspired to fraudulently divert the sum N864 million.
The money was said to be part of the bond proceeds from Ecobank meant for resuscitation of production at Dana Steel Rolling Factory in Katsina for other unapproved uses.
The defendants were also alleged to have conspired “to fraudulently remove and transfer to one Atlantic Shrimpers Account No: 0001633175 with Access Bank and divert the sum of N60,300,000 (Sixty Million Three Hundred Thousand Naira).”
The money was said to be part of the bond proceeds from Ecobank meant for resuscitation of production at Dana Steel Rolling Factory in Katsina for other unapproved uses.
The cumulative sum of the amount involved in the charge was N1, 374, 300, 000, while the offence was said to be contrary to and punishable under Section 516 of the Criminal Code Act, Laws of the Federation of Nigeria, 2004.
At the resumed proceeding on Monday, the defence lawyer told the court that the 1st defendant was outside the country, adding that the other defendants are corporate entities under his management.
Not satisfied with explanation by the defence counsel, Justice Egwuatu ordered that Ranesh should be arrested and produced before the court on the next adjourned date.