$11m Alleged Fraud: Obinwanne Okeke Pleads Not Guilty, to Remain in Prison Till February 2020
Obinwanne Okeke, the 31-year-old Nigerian held by American authorities for alleged fraud, entered a plea of not guilty to two counts of wire and computer fraud at his first hearing on Monday.
The Nigerian businessman was arraigned in court by 2pm, a week after being indicted by a federal grand jury which examined evidence gathered by the F.B.I. and presented by the United States Department of Justice.
Upon conviction, the jury also said Mr Okeke should be made to forfeit at least $11 million in asset and an emerald shaped diamond engagement ring found on him when he was first arrested by federal agents as he was about leaving the U.S. on August 6.
Ruling on the case on the first day of trial, US Magistrate, Douglas Miller ordered that Mr Okeke be remanded in prison custody until February 18, 2020 while also describing the fraud case as “complex”. The trial of the Forbes 30 under 30 entrepreneur accused of orchestrating the theft of $11 million from a foreign subsidiary of American heavy equipment manufacturer, Caterpillar, is expected to continue on the announced date.
Mr Okeke, known in Nigeria as ‘millionaire entrepreneur’ Invictus Obi, was accused by the F.B.I. of orchestrating the theft of $11 million from a foreign subsidiary of American heavy equipment manufacturer, Caterpillar.