The Economic and Financial Crimes Commission (EFCC) has arraigned Aisha Salihu Malkohi popularly known as ‘Arab Money’ on five-count charges bordering on misappropriation of funds to the tune of N410,518,000.
Arab Money was arraigned alongside her husband, Abubakar Mahmoud (at large) on Friday, before Justice Aisha Mahmud of the Kano State High Court.
She ran out of luck when investigators of the EFCC Kano received a petition from two petitioners, Farida Ibrahim and Ibrahim Mohammed Abdulrahman, alleging that she conspired with her husband and defrauded them of their hard earned money under the guise of supplying them with cars, gold, electronics and kitchen utensils from Saudi Arabia.
However, upon receiving the petition, the Commission swung into action and conducted thorough investigation which revealed that the defendant had collected a total sum of N410,518,000 from the petitioners.
EFCC found out that the money was received through bank accounts belonging to her company, Golden Grass Hill International Ltd and her husband’s Zenith Bank account.
Further investigation also revealed that the defendant, alongside her husband, who is still at large, diverted the monies into several bank accounts.
Arab Money had pleaded not guilty to all the five counts charges read to her.
One of the charge reads ‘’’that you Aisha Salihu Malkohi and Abubakar Sadiq Mahmoud (now at large) on or about 2022 in Kano, Kano state within the jurisdiction of this honourable court, did obtain the sum of 225,259,000 belonging to Farida Ibrahim between 6th January to 16th December, 2022 into account bearing Abubakar Sadiq Mahmoud domiciled at Zenith Bank that the said money were paid to you for the purchase and supply of 64 cars, from Saudi Arabia facts which you knew to be false and thereby committed an offence contrary to Section 1(a) & (b) and punishable under Section 1(3) of the Advance Fee Fraud and other Fraud Related offences Act,2006’’
Meanwhile in view of her plea, EFCC counsel, Zarami Mohammed prayed the court for a trial date, while the defence counsel, G.I Abubakar moved a bail application for his client which was opposed by Mohammed.
Justice Mahmud thereafter adjourned the matter till December 15, 2023 for ruling on the bail application and remanded the defendant in EFCC custody pending ruling on her bail application.
