July 29, 2015 – Picture: Indian-Briton Chartered Accountant Charged For Duping Nigerian Business Partner
The Lagos State Government has arraigned an Indian-Briton chartered accountant, Deepak Khilnani, before a Lagos High Court, Ikeja, over an alleged $8.8million fraud.
Khilnani, who was arraigned alongside one Dr. Sushil Chandra, was alleged to have duped his Nigerian partner, Green Fuels Limited, to the tune of $8.8million in 2008.
However, Khilnani, who was not in court, was represented by his counsel, Kayode Ajekiigbe.
The defendants were arraigned in the court presided by Justice Oluwatoyin Ipaye.
They were facing a four-count charge bordering on conspiracy, cheating, stealing and false representation.
The prosecution led by Akin George, alleged that the suspects “fraudulently tricked Green Fuels Limited to pay greater sum for machinery purchased from Gentec Limited than it would have paid for such machinery.”
The suspects were also accused of making false statement to the Corporate Affairs Commission “knowing same to be false, with intent to defraud the shareholders and members of Green Fuels Limited.”
The offences, according to the prosecution contravened sections 390(6), 421, 422 and 436 of the Criminal Code Law, Cap C17, Vol.2, Laws of Lagos State, 2003.
Khilnani’s counsel, Ajekiigbe however told the court that his client’s absence was because he was yet to be served formally, adding that he (Ajekiigbe) was in court as a result of a publication he read in a newspaper.
But the prosecutor, George disagreed with the submission of the defence counsel.