Browsing: Court of Appeal

One of the counts reads:  “That you,  Peter Nwaoboshi  and Golden  Touch Construction  Projects Limited,  between May and June,  2014, within the jurisdiction  of this honourable court, did acquire a property described as Guinea  House,  Marina Road,  Apapa,  Lagos,  for the sum of N805million, when you reasonably ought to have known that the sum of N322 million out of the purchase price transferred to the vendors by order of Suinming Electricals Limited formed part of the proceeds of an unlawful  activity of fraud and you thereby committed an offence contrary  to Section 15(2) (d)  of the Money Laundering Prohibition Act  of 2011(as amended) and punishable  under Section (15)(3) of the same Act.”