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Home Business & Finance

Court Orders Arrest of TSTV CEO Over $651,280 Fraud

Rita OrakwuebyRita Orakwue
November 25, 2024
in Business & Finance
0
Court Orders Arrest of TSTV CEO Over $651,280 Fraud
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A Chief Magistrate Court in Abuja has issued a warrant for the arrest of the Chief Executive Officer of Telecom Satellite Television, TSTV, and Briech Intelligence Fusion Limited, Dr. Bright Echefu, over alleged fraud. Echefu allegedly obtained drones and accessories valued at $651,280 under false pretenses from BCG NEEDS Company in October 2022, with the intention to defraud. The businessman was said to have refused to pay after several demands and cut communications with the complainant.

The court ordered that motion upon an application by the complainant’s counsel, who stated that the need to compel Echefu’s appearance was important. Magistrate Okechukwu John Akweke granted the warrant under Section 113 of the Administration of Criminal Justice Act 2015. This further deepens the legal predicament facing Echefu, who is already being separately charged for tax evasion, money laundering, and advanced fee fraud by the EFCC.

Echefu is accused of diverting millions meant for tax payment and failure to remit VAT and other deductions for 165 workers. The case was adjourned to 9th December 2024 for continuation of the trial.

Tags: 280 FraudarrestBusinesscourtCourt Orders Arrest of TSTV CEO Over $651federal characterNewsTSTV
Rita Orakwue

Rita Orakwue

Orakwue Rita is a mass communication graduate and versatile content writer. With a background in journalism and creative writing, she excels in creating engaging and high-quality content for various platforms, including social media, blogs, and websites. Her storytelling skills make her a valuable asset in content creation.

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