$9.6bn P&ID scam: Court orders arrest of another foreigner, Fantoli

Justice Donatus Okorowo of the Federal High Court, Abuja, on Thursday, ordered the arrest of one of the alleged brains behind the Process and Industrial Development (P&ID) Limited’s alleged $9.6 billion fraud, Corrado Fantoli.

The judge gave the order while ruling on the ex-parte motion moved by the Economic and Financial Crimes Commission (EFCC)’s counsel, Bala Sanga.

Fantoli, who is from Italy, is an associate of James Nolan, a Briton, who recently jumped bail.

The court had issued an arrest warrant against Nolan and he was declared wanted by the EFCC to face trial on the criminal charges against him.

In a suit marked: FHC/ABJ/CR/273, dated June 20 and filed Aug. 5 by the anti-corruption agency, Fantoli, who is said to be at large, is expected to face an eight-count charge of money laundering.

A company, Resorts Express Concept Nigeria Limited, was also listed as a defendant by the commission.

READ ALSO: P&ID scam: EFCC asks court to issue arrest warrant for three Marqott Directors

Fantoli and Giovanna Beccarelli, who had also been declared wanted and an arrest warrant issued against her, are said to be directors and signatories to the company’s Guaranty Trust Bank account number: 0123849451.

When the matter was called on Thursday for the defendants’ arraignment, Fantoli was neither in court nor represented by a lawyer.

The EFCC ‘s counsel notified the court about his motion ex-parte, seeking the issuance of a warrant of arrest against Fantoli pursuant to the relevant sections of the Administration of Criminal Justice Act (ACJA), 2015, and the inherent power of the court.

The lawyer, in a three-ground argument, said the proof of evidence in support of the charge had disclosed a prima facie case against Fantoli, among others.

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