Judge Withdraws from $42.48m Fraud Trial in Lagos

On Tuesday, the Federal High Court in Lagos, presided over by Justice Akintayo Aluko, saw a significant turn in a high-profile $42.48 million fraud trial involving British national Marcu Wade and Indian businessmen Prem Garg and Devashish Garg, alongside their company Wilben Trade. The case, filed by the Office of the Attorney General of the Federation (suit FHC/L/562C/2022), alleges that the defendants conspired to defraud Ecobank Nigeria PLC in September 2015.

The trial commenced in 2022, but the defendants have repeatedly failed to appear in court, leading to multiple adjournments. Justice Aluko disclosed that he had received a petition alleging gross misconduct against him, which prompted his decision to withdraw from the case.

He emphasized the importance of due process and noted that the persistent absence of the defendants significantly stalled the trial. The case file has been returned to the Chief Judge of the Federal High Court for reassignment, marking a fresh start for the trial.