Stockbroker in EFCC Custody over Investors’ N26.9m – A stockbroker, Mr Ahmad Abdullahi, who used to be with a brokerage company in Kaduna State, Atlas Portfolio Limited, is in court explaining what he did with investors’ funds worth N26.9 million he was meant to use to purchase shares for them.
He was dragged before Justice M.T.M Tukur of the Kaduna State High Court a few days ago by the Economic and Financial Crimes Commission (EFCC) on charges bordering on criminal breach of trust, a statement from the agency said.
The accused person was said to have committed the alleged offence when he was with the brokerage firm and according to the EFCC, he diverted to persona use N26,880,000 paid into the account for the acquisition of shares by a group of 39 customers, including a certain Hassan Usman.
“That you, Ahmad Abdullahi (m) sometime in 2019 in Kaduna, Kaduna State within the jurisdiction of the court, being a servant in the employment of Atlas Portfolio Ltd, and such capacity entrusted with a certain property, to wit: the sum of N900,000 only given to you by one Jabir Abdullahi Muhammad, committed criminal breach of trust in respect of the said property, and you thereby committed an offence contrary to and punishable under Section 299 of the Kaduna State Penal Code Law, 2017.
“That you, Ahmad Abdullahi (m) sometime in 2020 in Kaduna, Kaduna State within the jurisdiction of the court, being a servant in the employment of Atlas Portfolio Ltd and in such capacity entrusted with a certain property, to wit: the sum of N1,100,000 given to you by one Jabir Abdullahi Muhammad, committed criminal breach of trust in respect of the said property, and thereby committed an offence contrary to and punishable under Section 299 of the Kaduna State Penal Code Law, 2017,” two of the charges read.
However, the suspect pleaded not guilty to the charges when they were read to him and upon his plea, the prosecution counsel M. E Eimonye asked the court to fix a date for trial and that the defendant be remanded in a custodial centre.
But the defence counsel, Sule Shuaibu, applied orally for the bail of his client, which was granted by Justice Tukur in the sum of N15 million and one surety in like sum.
The judge held that the surety must be either a serving civil servant on Grade Level 16 or above in either the state or federal civil service or a principal staff of a prominent company on the same level or grade, while the case was adjourned till November 18, 2021, for trial.