TSTV executives arraigned for tax evasion, money laundering

TSTV executives arraigned for tax evasion, money laundering

The Managing Director and Chief Executive Officer of Telecom Satellite Television, Bright Echefu, and its Executive Director, Felix Igboanuga, were on Thursday, arraigned on a nine-count criminal charge before Justice Inyang Ekwo of the Federal High Court Abuja

The duo were accused of tax evasion, money laundering and advanced fee fraud by the Economic and Financial Crimes Commission.

which he responded in the affirmative.

In a short ruling, Justice Ekwo granted the duo bail adopting EFCC’s administrative bail conditions as granted to them previously.

“What I will do is to allow the terms of the administrative bail you granted them to continue.”

The judge, however, stated that the defendants are not allowed to travel out of the country without the permission of the court while immigration must be notified of the seizure of their international passports.

“The defendants shall not leave or travel out of the jurisdiction of this court without prior knowledge of the court,” Justice Ekwo pronounced.

He warned that any breach of the bail conditions or absence in court would automatically lead to the revocation of their bail and to remain in custody throughout the trial period.

“If they are absent from court in any of these days I will not hesitate to remove bail and they will remain in confinement till the end of the trial.”

Justice Ekwo directed the EFCC to transmit the record of administrative bail granted to the defendants to the court within seven days.

He fixed July 15, 16 and 17 for trial.