EFCC arraigns ‘606Autos’ Boss, Babafemi for N207.1m Money laundering - SephoraNews- Nigeria Entertainment Blog SephoraNews- Nigeria Entertainment Blog: EFCC arraigns ‘606Autos’ Boss, Babafemi for N207.1m Money laundering
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Saturday, 2 November 2019

EFCC arraigns ‘606Autos’ Boss, Babafemi for N207.1m Money laundering

Economic and Financial Crimes Commission, EFCC officers on Friday indicted a car dealer, Sarumi Babafemi, nickname "606" for laundering a total of N207m between 2013 and 2018.
Babafemi alongside his companies – 606 Autos Limited; 606 Music Limited; and Splash Off Entertainment Limited – was charged on five counts before the Federal High Court in Lagos.
He was accused of transferring N37.6m to one Omojadesola Allison; N93m to one Olanrewaju Oriyomi; N1.5m to one Abiola Ayorinde, nickname "ABK"; N25m to one Bartholomew Ezeudoka; and N50m to one Amobi Uchenna.
The EFCC said 6O6 “ought to have plainly known that such funds form part of an illegal act, to wit: earning money by fraudulent claim”.
The prosecuting attorney for the EFCC, Mr A.B.C. Ozioko, said 606 and his companies acted contrary to Section 15(2)(b) of the Money Laundering (Prohibition) Act 2011 (as amended) and were inclined to be punished under Section 15(3) of the same Act.
But 606 and his companies pleaded not guilty when the charges were read to them.
The defence attorney, Dr Muiz Banire (SAN), told Justice Chukwujeku Aneke that he had registered an application for his client’s bail and had served it on the prosecution.
Banire, who said the crime was bailable, urged the court to grant bail to his client in liberal terms. But the prosecutor, Ozioko, urged Justice Aneke to reject the bail application based on the defendant’s antecedents.
Ozioko said the charges against 606 were informed by intelligence from the American Federal Bureau of Intelligence. He told the judge that there was another charge against 606 pending before another court.
Justice Aneke adjourned till November 4, 2019, to rule on the bail application. He ordered that 606 be remanded in the prison custody until then.


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