Chairman Innoson Motors Fingered In N2.4 Billion Fraud

Chairman of Innoson group, Innocent Chukwuma.
L-R: Chairman of Innoson group, Innocent Chukwuma with Anambara State governor, Willie Obiano

A Federal High Court in Lagos on Monday has fixed Nov. 25 to hear a N2.4 billion suit filed against Innosson Nig. Ltd — makers of Innoson vehicles — over alleged falsification of shipping documents.

Charged alongside Innosson Nig. Ltd in the four count charge are Dr. Innocent Chukwuma, Charles Chukwu, Maximian Chukwura, Mitsui Osk Lines ‘C’ and Anajekwu Sunny.

Dr. Innocent Chukwuma, popularly known as Innoson, is the Group Chairman and Chief Executive Officer of popular Nnewi-based vehicle manufacturing company, Innoson Vehicle Manufacturing (IVM).

The accused were alleged to have falsified shipping documents which they deposited with Guaranty Trust Bank as collateral for the sum of N2.4 billion granted to Innoson Nig. Ltd.

The accused also went ahead to present the shipping documents as genuine with the intent to defraud and to clear goods worth N2.4 billion.

They conspired to commit the offence on Oct. 10, 2013 at Apapa Wharf, Lagos, according to the suit.

Why the Inoson case was adjourned

The prosecutor, Mr J.I. Ajakaiye, informed the court that he had served the court processes on all the defense counsels on Oct. 21 at about 4.18 pm. The counsel to the third and sixth defendants were, however, served in court before the commencement of trial.

In his response, one of the defense counsels, George Uwechue, confirmed to the court that he had received the processes, but required adequate time to study and file a response.

Based on the agreement of the counsels, Justice Saliu Saidu therefore adjourned hearing of the case to Nov. 25.

Meanwhile, Uwechue has filed a motion, urging the court to recuse from the suit.

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