Details have emerged on how Bright Echefu, CEO of Telecom Satellites Limited, TStv, allegedly defrauded Mr. Tanimu Turaki, a former Minister of Special Duties and Inter-Governmental Affairs, of N1 billion and $1.3 million under the guise of an investment scheme.
Bright Echefu, alongside TStv Executive Director Felix Igboanuga, Telecom Satellites Limited, and Briechberg Investment Ltd, has been re-arraigned by the Economic and Financial Crimes Commission (EFCC) on a 12-count amended charge before the Federal High Court in Abuja.
The charges include allegations of money laundering, tax evasion, and obtaining funds under false pretences.
According to an amended charge sheet, the defendants allegedly duped Mr. Turaki—who is also the Managing Director of Kalsiyam Global—and BYI General Limited into investing the funds through fraudulent representations.