The Federal High Court in Lagos has adjourned the $42.48 million fraud case involving a British national, two Indian nationals, and their companies to January 27, 2026. The defendants are accused of conspiring to defraud Ecobank Nigeria Limited under the guise of importing parboiled rice in 2015.
The defendants, identified as Marcus Wade, a Briton and Chairman of Wilben Trade Limited; Prem Garg and Devashish Garg, both Indian nationals, are being prosecuted alongside their firms, Wilben Trade Limited (Dubai) and Agrico Agbe Limited (Nigeria). The case is being handled by the Office of the Attorney-General of the Federation.
At the resumed hearing, Justice Akintayo Aluko adjourned proceedings due to the absence of both the prosecution and the defendants. A defence counsel, A. A. Akinteye, informed the court that the prosecutor had sought an adjournment due to engagement in another matter at the Court of Appeal. The defence did not oppose the request.
Meanwhile, representatives of Zenith Bank, Guaranty Trust Bank, and Citibank told the court that they did not maintain accounts for the defendants or their companies, in line with earlier freezing orders issued in the case.
The defendants are accused of conspiring between May and September 2015 to fraudulently obtain $42,485,900 from Ecobank, allegedly meant for the importation of Indian parboiled rice, but which was never utilised for the purpose. The offences fall under Sections 421 and 422 of the Criminal Code Act, Cap C38, Laws of the Federation of Nigeria, 2004.
Despite several summons, the defendants have not appeared in court to take their pleas. Applications filed by them to stop their arraignment and set aside bench warrants issued for their arrest have previously been dismissed.
The matter will continue on January 27, 2026.
