A certain Mr. Yusuf Ibrahim Karakai known to be a Bureau De Changer in Kaduna has gotten himself into a very difficult situation as he was reported to have defrauded about 10.2 Million Naira from one of his business customers.
In accordance to this incident, he was officially charged to the Kaduna high Court on counts of criminal breach of trust, misappropriation of funds and obtaining money by false pretense. He appeared before Justice M Tukur.
Prior to his appearance in court, a petition had already been filed against him and he was invited for a questioning session by the Economic and financial crimes commission (EFCC).
It was reported that Mr. Ibrahim Karakai presented one of his business customers Mr. Bashir Ibrahim Isah with a foreign exchange trading business proposal. Both parties where to be partners in this business deal.
After a mutual agreement was met by the two men involved, Mr. Bashir said that he and another interested person made a two year investment for 10.2 Million. But later on, Mr. Yusuf Ibrahim Karakai was nowhere to be found, he allegedly disappeared with their money.
At his court hearing, the EFCC charges on him read thus “That you Yusuf Ibrahim Karakkai sometime in 2012 in Kaduna within the Kaduna judicial Division of High Court of Kaduna State while operating a Bureau de change business (trading in foreign currency) and in such capacity entrusted with Dominion over the sum of N10,173,000.00 (Ten Million, One Hundred and Seventy Three Thousand Naira) only, belonging to one Bashir Ibrahim Isah and thereby committed criminal breach of trust by misappropriating the money in violation of the mode in which such trust is to be discharged and thereby committed an offence contrary to Section 311 of the Penal Code Law punishable under Section 312 of the same Law.”
However, the accused – Mr. Yusuf Ibrahim Karakai – pleaded not guilty in response to all charges against him by the EFCC. The defense attorney, Abdul Rauf Atiku Esq requested that the court grant the accused bail while the prosecution counsel, Sa’ad Hanafi instigated that the court fixed a new date for commencement of trial.
The case was adjourned to Thursday, 6th December 2018. However, the Judge – Justice M Tukur – granted the accused bail at the sum of N1 Million with a surety that possesses a landed property, certificate of ownership and evidence of task clearance to stand for him as well.