‘€250m Fraud’: EFCC’s Trial Of Dead Malaysian Stalled Over Lawyer’s Absence

Court sitting in the trial of the late Tan Ah Chai Richard, a Malaysian, and his company, Coastal Asia Investments Limited, could not hold on Monday due to the absence of the defence counsel.

Justice Mojisola Dada of the Special Offences Court, Ikeja, Lagos, adjourned sitting till June 9, 2023.

The late Malaysian is being accused of committing fraud to the tune of €250 million.

Richard and his company were first arraigned by the Economic and Financial Crimes Commission, EFCC, on May 22, 2019 on a five-count charge bordering on forgery, use of false document, conspiracy to forge and an attempt to obtain money by false pretence to the tune of €250,000,000.00.

Before his death, the defendant had pleaded “not guilty” to the charges read to him in the language that he could understand.

This prompted the commencement of the trial.

However, in the course of the trial, Richard reportedly died in prison custody which necessitated the need to amend his charges.

One of the amended charges reads: “Tan Ah Chai Richard (Deceased), Coastal Asia Investments Limited and Dr. Sawang Jana (still at large), on or about the 27th September, 2018 at Lagos, within the jurisdiction of this Honourable Court, with intent to defraud, conspired to commit felony, to wit: forgery of Swift Telex Advice dated 27th September, 2018, indicating transfer of the sum of €250,000,000.00 (Two Hundred and Fifty Million Euros) to Coastal Asia Investments Limited account with Polaris Bank Plc (formerly Skye Bank Plc), from HSBC Bank Plc, London, United Kingdom.”