EFCC Quizzes Paramount Energy’s MD for Alleged N72.3million Fraud in Enugu

Operatives of the Enugu Zonal Directorate of the Economic and Financial Crimes Commission, EFCC have commenced investigations into the activities of one Ralph Chinazum Ajah, Managing Director, Paramount Energy Limited for an alleged case of obtaining by false pretence and stealing to the tune of N72, 300, 000. 00 (Seventy two million, Three Hundred Thousand Naira).

A petitioner alleged that he sent the said sum to Ajah for the supply of petroleum products to some of his branches. The said money was paid in six tranches between April 11, 2022 and May 24, 2022.

“After he collected the money, he kept promising to supply the products as agreed but failed to do so which then prompted us to do preliminary investigations and we discovered that Chinazumah Ajah and his company do not have the capacity to supply the products and he deliberately defrauded us of our business capital”, the petitioner said.

However, investigations revealed that the suspect used the account of his company, Paramount Energy Limited, to receive the said sum after which he transferred the money into his account for personal use.

The suspect will be charged to court as soon as investigations are concluded.