By Henry Ojelu

A Federal High Court sitting in Lagos has adjourned further hearing in the criminal trial of a British national, two Indian businessmen, and their companies accused of orchestrating a $42.48 million international trade fraud under the guise of rice importation.

Justice Akintayo Aluko fixed January 27, 2026, for continuation of proceedings after the prosecution and defendants failed to appear in court.

The defendants, Marcus Wade, a Briton and chairman of Wilben Trade Limited, Dubai; Prem Garg and Devashish Garg, both Indian nationals, are standing trial alongside Wilben Trade Limited, Dubai and Agrico Agbe Limited, Nigeria.

They are being prosecuted by the Office of the Attorney-General of the Federation, AGF.

According to the charge marked FHC/L/562C/2022, the defendants allegedly conspired in 2015 to obtain $42,485,900 under the pretext of using it for the purchase and importation of Indian parboiled rice into Nigeria.

Prosecutors allege that the funds were never used for the intended contract but were diverted for other purposes.

The offences, according to the charge, contravene Sections 421 and 422 of the Criminal Code Act, Cap C38, Laws of the Federation of Nigeria, 2004.

At the last hearing, defence counsel A.A. Akinteye told the court that the prosecution had requested an adjournment, explaining that the government’s lawyer was engaged at the Court of Appeal.

He therefore applied for another date for continuation of hearing.

The case has witnessed repeated adjournments since it was filed, largely due to the failure of the foreign defendants to appear in court.

Justice Aluko had in earlier rulings dismissed several applications by the defendants seeking to quash the charges, halt their arraignment, or vacate the bench warrant issued for their arrest.

Two lawyers, Ademola Abayomi and Victor Adunwa, representing Zenith Bank, Guaranty Trust Bank (GTB), and Citi Bank, informed the court that none of the defendants or their companies maintained accounts with the listed financial institutions.

Their submission followed a previous freezing order issued against the defendants’ accounts.

The alleged fraud dates back to transactions carried out between May and September 2015, when the accused persons purportedly entered into a contract to import rice but allegedly diverted the $42 million facility meant for the transaction.

The court has now adjourned the matter to January 27, 2026, for further hearing, with expectations that the defendants will appear to take their pleas.

Source; Vanguard News