The Chairman of the People’s Democratic Party (PDP), in Ondo State, Clement Faboyede and the state Director General of PDP Campaign Organization during the last general election, Modupe Adetokunbo were yesterday arraigned before a Federal High Court sitting in Lagos over alleged laundering of N500 million.
They were arraigned before Justice Saliu Saidu on a three-count charge of money laundering by the Economic and Financial Crimes Commission (EFCC).
EFCC in a charge delineated FHC/ L/201C/2018 filed before the court by its counsel, Ekene Iheanacho, alleged that the duo and others at large on March 27, 2015, conspired amongst themselves to accept cash payment in the sum of N500million from one Owolanke Micheal without going through a financial institution.
EFCC alleged that Faboyede, while acting as state Chairman, made cash payment of the sum of N500 million to the Ondo State Election Committee of the Party which exceeded N5 million, without going through a financial institution. They pleaded not guilty to all the charges.
Following their plea, prosecuting counsel urged the court to remand them in prison and asked for trial date.
Defense counsel, Eyitayo Jegede, urged the court to admit them to bail. But the trial judge refused Jegede’s request and asked him to file a formal application for bail.
Justice Saidu ordered that the duo be remanded in prison custody pending when their bail applications will be entertained, adjourning their trial till September 17, 2018.