Businessman loses N177.5m to Chinese fraudster, sues bank

By Editor on 16/08/2018

Share on facebook Yahoo mail icon Gmail icon

Views: 776


A Nigerian businessman, Umegelo Emmanuel, has dragged Zenith Bank Nigeria Plc before the Lagos State High Court in Igbosere after being allegedly swindled out of his N177, 500, 000 by a Chinese, whose name, was given only as Ms Muna.

The businessman is urging the court to compel Zenith Bank to  pay him the N177.5m, which he allegedly lost to the Chinese fraudster.

Emmanuel, in his statement of claim before the court, explained that he entered into a business agreement with Muna, who has business interest in Nigeria, for the Chinese to help him purchase some goods from her country, China.

Emmanuel said because of his long-standing banking relationship with Zenith Bank, he insisted that Muna should provide a Zenith Bank account.

The businessman said as a result, the Chinese provided him with a Zenith Bank Account No: 1005689704, with an account name, Xian Fang Li.

Emmanuel said he confirmed that the account existed before transferring the N177.5m into it.

“But shortly after the money was paid into the account, Ms Muna refused to deliver the goods and subsequently stopped picking my calls and blocked all my access to her contact.

“I have visited China twice in search of Ms Muna and had even reported the matter to the Chinese police and the Chinese Embassy but all my efforts to locate the said Ms Muna has proved abortive,” the businessman said.

He said investigation by the police in Nigeria showed that “the utility bills presented in opening the Xiang Fang Li account were fictitious and the signature of one of the purported referees to the Xiang Fang Li account, Mr  Kazeem Lawal, was conclusively found to be forged.”

The businessman contended that the bank did not do its due diligence “to verify the true identity of the account holder, the true identity of the referees supplied during the account opening as well as the validity of the account opening documents.”

He is therefore, seeking, among other prayers, “a declaration that the defendant is negligent and reckless in her duties to the claimant and the public in general.”

He wants the court to make  an order “mandating the defendant to refund the sum of N177,000,090 to the claimant being the sum lost by the claimant due to the negligence of the defendant.”

He wants the court to award N10m against the bank “as general damages against the defendant for breach of contract.”

Emmanuel wants the money to be paid with 15 per cent interest before judgment and 21 per cent post judgment.

But the bank has urged the court to dismiss the businessman’s  suit against it.

While absolving itself of complicity in Emmanuel’s loss, Zenith Bank contended that Emmanuel did not contact it for advice on the alleged business transaction he had with Muna before paying the sum of N177.5 million into the suppmillioncount.

"The claimant failed to request a bank guarantee of the alleged sum from or requested that the defendant issue a confirmation or a letter of comfort before dealing with both Ms Muna and Xian Fang Li.”

The court has yet to fix a date to hear the suit.

Posted 16/08/2018 07:16:03 AM

 

Share on facebook Yahoo mail icon Gmail icon


 

You may also like...
Killer-herdsmen were Gaddafi-trained gunmen, says Buhari

I have given up on Nigeria – Nollywood...

INEC declares Kayode Fayemi winner of Ekiti Governorship...

2019: Nwabueze, Nwodo, IPOB say Igbo not interested...

Sickle cell support group seeks lgovernment intervention

Offa robbery: Again, Saraki writes Police IG, denies...

EMU leader, Arthur Nwankwo, declares: Nobody can stop...

Osun: Ekweremadu faults INEC on Inconclusive Election

Buhari’s desperation to win caused election postponement, says...

Biafrans not terrorists, but want to be heard...

2019 presidency: Court sacks Donald Duke, declares Jerry...

Army, Shiites clash claims another 50 lives

 

Latest News Our endorsement of Atiku, Obi sacrosanct —Ohanaeze Order on ballot box snatchers: We’ll act according to the law – Army Buhari orders Army, Police, others to kill ballot box snatchers Outrage as Buhari declares death for ballot box snatchers Ballot box: Buhari showing his true colours with death threat – Atiku Enugu East: Court sacks APC Senatorial candidate Postponement: Presidency speaks on alleged plans by Buhari to remove INEC chairman Customs officer allegedly kills passenger over N5,000 bribe Woman allegedly defrauds church of N110m, nabbed APC national caucus meets on Monday, ahead of rescheduled elections Election Postponement: INEC Chairman has many questions to answer --ABC Nwosu TI doubts safety, integrity of electoral materials

 

Most Read NAFDAC eases processes, cost of registering products for MSMEs (7,633 views) Full Text of Governor Ifeanyi Ugwuanyi’s 2016 Budget Speech (6,435 views) Ex-Heads of State will protect Jonathan from persecution —Kukah (6,133 views) IPOB: ‘We need urgent clarifications on Nnamdi Kanu’s status, whereabouts’, UK Govt tells FG (5,614 views) ASUU strike: Senate intervention ends in deadlock (5,505 views) Ex-governor Adebayo, Keyamo, Arise, others get board appointments (4,575 views) Prince Arthur Eze canvasses support for Buhari, Ugwuanyi (4,467 views) Ugwuanyi commends FG’s siting of ICT University in Enugu (4,405 views) Anambra: INEC releases 37 candidates for Nov poll (4,345 views) Nigeria ripe for Restructuring Now – Nwodo in Chatham House (4,343 views) Buhari has disappointed Nigerians – Arewa Youth Forum (4,301 views) Quit notice: Kaduna Govt obtains bench warrant against Northern youths (4,221 views)

 

SECTIONS NEWS (831) EDITORIAL (6) POLITICS (412) SOCIETY (105) SPORTS (13) BUSINESS (241) HEALTH (16) EDUCATION (20) ENTERTAINMENT (8) INTERNATIONAL (31) TECHNOLOGY (1) COLUMNISTS (0) LETTERS (0) OPINION (10)

 

 

Julius Agwu - Crazy Interview Demands