A Port Harcourt High Court has remanded two men – Aso Adasa Morrison and Frank Biobarakuma – in prison for allegedly defrauding a Korean, Jung Yongmin of N57m.

The accused persons are facing 17 counts of conspiracy, forgery and fraud preferred against them by the Independent Corrupt Practices and Other Related Offences Commission.

A statement by the ICPC spokesman, Folu Olamiti, stated that the alleged offence was committed between March, 2012 and February 2013, in Port Harcourt.

The ICPC said, “The accused persons, trading under the name Kunyang Frontiers Holdings Inc, allegedly conspired to obtain the sum of USD 260,000 vide GTB Bank Account No 0123149230 of River Nun Marine Shuttle domiciled in Port Harcourt under the guise of selling two million barrels of Nigerian Light Crude Oil to the said company.”

The suspects were also accused of fraudulently receiving another sum of USD120,000 vide UBA account No. 3001561734 of Charter Marine Ltd domiciled in Port Harcourt under the guise of selling two million barrels of Nigerian Light Crude oil to the said company.

The alleged offence is contrary to Section 26(1)(c) and punishable under Section 13 read in conjunction with Section 68 of the Corrupt Practices and other Related Offences Act, 2000.

The prosecution added that obtaining under false pretences and with intent to defraud was contrary to Section 1(a) and punishable under Section 1(3) of Advance Fee Fraud and other Related Offences Act, CAP 6 LFN 2004.

The ICPC said the accused forged a document titled ‘Cargo On Board MT Front Scilla’ addressed to Mr. Yongmin, and another document titled ‘Notary Letter of Gurantee.

Justice George Will refused an oral bail application which was opposed by the Prosecution counsel, Ayobami Adepoju.

He ordered that the accused persons be remanded in custody till May 24.