Ben Ayade's relative took a huge fraud? What weird transactions were in their accounts? What sum of fraud was? You’ll be shocked with the latest politician news! Check it out here!
Cross River State Governor, whose name is Ben Ayade, was embarrassed with his brother’s arrest by the Nigerian Financial and Economic Crimes Commission. His name is Francis Ayade and he is the brother of Ben Ayade, who works as the Cross River State Governor was involved in a huge, N2.4 billion contract fraud scandal.
General fraud definition – it is receiving by authorities obviously illegal material compensation for their official conduct or some payment in connection with their position.
Senator Ben Ayade’s brother Francis Ayayde was caught by operatives of national anti-graft agency in connection with the scam scandal on Tuesday. Frank is the successful Managing Director of Leophina Nigeria Limited and also Hally Brown International Limited was caught in some unscrupulous weird transactions.
Also according to different reports, the senator’s brother was involved in some diverting public funds into his own companies’ accounts. So EFCC workers showed that four distributions from the accounts of the Federation, were allegedly diverted into consideration of Hally Brown International Limited, owned by Ayade’s brother, Frank.
Ben Ayade's brother has been recently arrested
Researches made by EFCC operatives also found that in 2011 Hally Brown International Limited was contracted for the construction of roads in the amount of N2.4billion. Mr. Ayade allegedly took a huge loan - N350,000,000 from popular First Bank of Nigeria Plc, but on behalf of Mobility Project and Cross River’s Rural Access financing contract.
Instead of having to execute the contract, the loan was just transferred to the Mobility Project. Senator’s brother is also involved in some alleged suspicious transactions related to Micro Finance Bank of Obudu, among a couple of other charges.
The sources in the EFCC said that Mr. Frank was granted administrative bail. A senator’s brother, however, is still in custody awaiting his fulfillment of the conditions of bail. While writing this report, it was not sure if the senator Ben Ayade was involved in the alleged fraud. The press Secretary of the Cross River State Governor , Christian Ita, has not commented on the matter yet.
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