Petrostart Company: Elias Daaboul, Tony Daaboul And Naji Kordahi May Go To Jail Over Conversion Of Funds
OpenLife Nigeria reports that a Federal High Court, sitting in Lagos, South West Nigeria, has adjourned till 14th of June,2022,when a limited liability company Petro Star Nigeria Limited and three others Elias Daaboul,Tony Daaboul, Naji Kordahi will be arraigned before the court over allegation of conversion of funds.
Petrostar is a diversified holding, with our origins in marketing, storage, and shipping of petroleum products.
In a three-court charge number FHC/L/406C/2019 filed before the court by Chief State counsel from the Federal Ministry of Justice, Abuja, Akutah Pius Ukeyima, it was stated thus, the court is informed by the Attorney-General of Federation on behalf of the Federal Republic of Nigeria that Petrostar Nigeria Limited, Elias Daaboul, Tony Daaboul And Naji Kordahi are charged with the following offences :
COUNT 1
STATEMENT OF OFFENCE:
Conspiracy to effect an unlawful purpose contrary to section 518 of the criminal code.
PARTICULAR OF OFFENCE:
Petrostar Nigeria Limited, Elias Daaboul, Tony Daaboul Naji Kordahi sometime between the year 2016 and 2019 conspired to effect an unlawful purpose to wit: breach of contract,stealing and fraudulent disposal of trusted property.
COUNT 2
STATEMENT OF OFFENCE: Stealing contrary to section 383 of the criminal code and punishable under section 390 of the Criminal code.
PARTICULAR OF OFFENCE:
Petrostart Nigeria Limited,Elias Daaboul, Tony Daaboul And Naji Kordahi, sometime between the year 2016 and 2019 fraudulently took and sold petroleum products financed and owned by a commercial bank under credit agreement and tripartite warehousing Agreement and converted the proceeds from the sale of the said petroleum products to their own use contrary to the terms of the credit and tripartite warehousing Agreement.
COUNT 3
STATEMENT OF OFFENCE: Fraudulent disposal of trust property contrary to section 434 of the Criminal code
PARTICULAR OF OFFENCE: Petrostart Nigeria Limited,Elias Daaboul, Tony Daaboul, Naji Kordahi, sometime between the year 2016 and 2019 while being entrusted with petroleum products financed and owned by a commercial bank under a credit Agreement and tripartite warehousing Agreement, with intent to defraud, converted the said petroleum products and proceeds from its sale to uses not authorized by the trust conferred on them by the terms of the credit and tripartite warehousing Agreement.
The defendants have never appeared in court since the charge was filed on the 13th of November,2019.
When the matter was mentioned, both the defendants and,the prosecutor were not in court, consequently, the presiding Judge while adjoining till June for the arraignment of the defendants, ordered that hearing notices should be issued on them.
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