CASE NUMBER 10904:

NIGERIAN FORBES ENTREPRENEUR FORFEITS N280.5 MILLION TO FG

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Alleged Perpetrators(s)

Obinwanne Okeke a.k.a Invictus Obi Invictus Oil and Gas Limited Invictus Investment Limited

Location (Town / State)

Lagos, Lagos

Date of Event

21 Nov 2019

Date of republication

21 November every year

Case category (Choose all that apply)

Case Summary

The EFCC secured the forfeiture of N280,555,010 allegedly belonging to Obinwanne Okeke aka Invictus Obi who has previously been touted as a Forbes Entrepreneur.

Full story

Millions of Nigerians were shocked when the Federal Bureau of Investigation of the United States of America announced the arrest of Obinwanne Okeke on the 6th August 2019. Obinwanne Okeke who is also fondly known as Invictus Obi was in 2016 celebrated by Forbes International as one of Africa’s most outstanding 30 entrepreneurs under the age of 30 and described by the magazine as “proof that there is hope for Africa".

However, he was picked up by the anti-crime agency of the United States of America for his alleged involvement in computer and wire fraud after an investigation which spanned over thirteen months. He was said to have in one of his computer fraud scammed an agricultural equipment company of $12million, among other fraudulent acts.

He was arraigned before the United States District Court of the Eastern District of Virginia on the 16th September 2019. The FBI accused him of orchestrating the theft of $11 million from a foreign subsidiary of American heavy equipment manufacturer, Caterpillar. If convicted, Okeke stands to face 30 years in American prison and also forfeit at least $11 million in asset and an emerald-shaped diamond engagement ring found on him when he was first arrested by federal agents as he was about leaving the US on August 6.

While his trial was undergoing in the United States, the Nigerian anti-corruption agency, EFCC, commenced investigations into his assets in Nigeria. Tow of his companies: Invictus Oil and Gas Limited and Invictus Investment Limited; which are under the aegis of his Invictus Group came under the radar of the EFCC as they found N280.5 Million which was warehoused in bank accounts belonging to the two companies which were reasonably suspected to be proceeds of unlawful activities.

The EFCC then rushed to the Federal High Court, Lagos to seek an order for the forfeiture of the said sums of money to the Federal Government. The application which was not challenged by any interested party was granted by the Federal High Court sitting in Lagos on the 21st November 2019 when Justice Rilwan Aikawa made an order for the final forfeiture of N280,555,010 belonging to the two companies owned by Invictus Obi.

Justice Aikawa held as follows: "I am satisfied that the requirements enumerated under Section 17 of the Advanced Fee Fraud and Other Fraud Related Offences Act have been met by the applicant in this suit. Consequently, this application is hereby granted as prayed as it remains unchallenged".

Justice Aikawa consequently ruled that the sum of N280.5million in FCMB and Zenith Bank accounts numbers: 3341692012 and 1013714256 respectively, be forfeited to the Federal Government of Nigeria.

External links/URLs

http://saharareporters.com/2019/09/17/us-court-remands-invictus-obi-prison-custody-until-february-2020

https://www.pulse.ng/bi/finance/from-forbes-to-fraud-5-ways-the-fbi-arrest-of-invictus-obi-could-affect-future/2kb6k9q

https://efccnigeria.or

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