Sam Low Ban Chai, the founder and chairman of Edmark Industries based in Malaysia, has been invited by the International Criminal Police Organization (Interpol) over strong allegations bordering on signature forgery of his minority partner, Maurice Etim over corporate resolutions, financial statements, tax returns, unauthorized bank accounts, and the appointment of new directors without his knowledge.
Following a petition by Maurice Etim, the Attorney General of the Federation, directed that Interpol conduct an investigation where it was discovered that Sam Low had opened and closed over 500 bank accounts for Edmark and subsidiaries companies without the knowledge of his partner Maurice Etim, a director and minority shareholder in several Edmark Group companies in Nigeria, which was in flagrant disregard to board resolutions and approvals actions which Etim found prejudicial.
The invitation letter from INTERPOL CR: 3000/X/ICPO/FHQ/ABJ/TFM/CBRNE-/VOL3/99, which was sighted by our reporter, states inter alia, “this bureau is investigating a case of criminal conspiracy, fraudulent diversion, cheating, forgery and money laundering in which your name featured prominently. In light of the following, you are respectfully invited to appear at the INTERPOL head office, Nigeria Police Force Headquarters, Shehu Shagari Way, Abuja for an interview with the Assistant Inspector General of Police and Head, National Central Bureau, INTERPOL…”
The invitation letter was signed by AIG Stanley Ude, Head, National Central Bureau {NCB), Nigeria Police Force, Force Headquarters Complex, Abuja.
Similar invitation was equally extended to Donald Anih, head of Edmark legal department and company secretary who was appointed without board resolution and approval.
Following the investigation by Interpol, Sam Low Ban Chai allegedly fled Nigeria and moved all the foreign staff in eleven branches nationwide.
From Malaysia, he hired Ebun Adegboruwa who he has allegedly used to frustrate several court orders and police investigations.
Legal experts are wondering why a very senior lawyer is placing hurdles in the path of justice by allegedly trying to frustrate an investigation that borders on weighty allegations on terrorism financing.
It will be recalled that the federal government of Nigeria had charged Binance, a top crypto firm with laundering $35.4m, tax evasion offences and financing terrorism.
And just like Binance, the actions by the founder of Edmark, is part of a broader international pattern of money laundering and terrorism financing and the courts here, as in other jurisdictions, should hold the company and its executives accountable.
Meanwhile, all efforts to reach the law firm of Adegboruwa for reactions, before publishing proved abortive.
