FG seeks arrest of Dana Group MD over ‘N1.3bn fraud’

The federal government has asked a high court sitting in Abuja to issue a bench warrant for the arrest of Hathiramani Ranesh, managing director of Dana Group.

Mojisola Okeya, counsel to the attorney-general of the federation (AGF), made the oral application on Thursday before Obiora Egwuatu, the presiding judge.

The application followed Ranesh’s absence in court for his arraignment.

The federal government alleged that the managing director has refused to appear for his arraignment in the alleged N1.3 billion fraud.

The AGF had filed a six-count charge against Ranesh and two others.

In the charge marked: FHC/ABJ/CR/101/2021 and filed by Moshood Adeyemi, deputy director of public prosecutions in the office of the AGF and minister of justice, Dana Group PLC and Dana Steel Ltd were joined as second and third defendants respectively.

In the first count, Ranesh, the two businesses, and unidentified individuals were accused of committing a crime on the property of the Dana Steel Rolling Factory in Katsina between September and December of 2018.

They were alleged to have conspired to remove, convert, and sell four units of industrial generators “i.e. three (3) units Ht of 9,000 KVA and 1 unit of 1,000 KVA; all valued at over N450 million, which form part of the Deed of Asset Debenture that were charged as collateral security for a bond issued in your favour, which Deed is still subsisting at all material times”.

In count three, the defendants and others at large were accused of conspiring to fraudulently divert N864 million from House No. 116, Oshodi-Apapa Expressway, Isolo-Lagos, between April 7 and 8, 2014.

The funds were said to be part of Ecobank bond proceeds intended for the resuscitation of production at the Dana Steel Rolling Factory in Katsina and other unapproved purposes.

Count five alleged that the defendants and others conspired to “fraudulently remove and transfer to one Atlantic Shrimpers Account No: 0001633175 with Access Bank and divert the sum of N60,300,000 (Sixty Million Three Hundred Thousand Naira).”

The money was also said to be part of the bond proceeds from Ecobank meant for the resuscitation of production at the aforementioned factory and other unapproved uses.

The cumulative amount involved in the charge stands at N1,374,300,000.

RANESH ABSENT IN COURT

When the matter was called on Thursday, Okeya told the court that though the case was scheduled for the arraignment of the defendants, Ranesh was not in court.

She then urged the court to issue a bench warrant for Ranesh’s arrest.

However, Bidemi Ademola-Bello, defence lawyer, disagreed with Okeya.

Ademola-Bello said they had filed a preliminary objection challenging the jurisdiction of the court to hear the matter and that the prosecution had already been served.

Okeya, on her part, objected to taking the preliminary objection on the ground that the defendants ought to be arraigned first before the court could entertain any other application.

In his ruling, Egwuatu asked Ademola-Bello to refer the court to any section of the Administration of Criminal Justice Act (ACJA), 2015, that makes provision for his request.

The judge also ordered the parties to address the court in the next adjourned date on whether the preliminary objection ought to be taken before arraignment.

He subsequently adjourned the matter until November 4.