Malaysian Accused By EFCC Of Fraud Of £250 Million Dies In Prison

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The €250,000,000.00 (Two Hundred and Fifty Million Euro) fraud trial involving a Malaysian, Tan Ah Chai Richard (now late), and his company, Coastal Asia Investments Limited, before Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos has been adjourned till March 4, 2022 for continuation of trial.

Richard and his company were first arraigned by the 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 (Two Hundred and Fifty Million Euros). He had pleaded “not guilty” to the charges, thereby prompting commencement of trial, which had seen the prosecution calling a witness.

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

At today’s proceedings, January 28, 2022, the prosecuting counsel, E.S. Okongwu, informed the Court that the charges had been amended as ordered by the Court.

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