Alleged release: Hushpuppi’s lawyer speaks

Gal Pissetzky, a Chicago-based lawyer, has denied rumors insinuating the release of Ramoni Abbas, an alleged multi-million dollar fraudster facing charges in the U.S.

On Wednesday, screenshots of the Bureau of Prisons website, showing his release, went viral.

According to the details on the website, which were verified by this paper, Mr. Abbas (popularly known as Huspuppi) was released on July 20.

Mr. Pissetzky, said the bureau’s records showed ‘released’ because of his transfer to California.

“These reports are not true. He has not been released. The Bureau of prisons website shows that he was released simply because he is being transferred now to California,” he said on Wednesday evening.

Mr Abbas’s case was transferred from Illinois to the Central District of California for prosecution, last Monday.

Mr Abbas, 37, who was resident in Dubai and known for flaunting extravagant lifestyle on social media, was arrested last month over wire fraud allegations. He was extradited to the U.S on July 3.

The Federal Bureau of Investigation had earlier alleged that Mr Abbas was part of a network that made “hundreds of millions of dollars” from business email compromise frauds and other scams.

Also, the American government said Mr Abbas funded his extravagant lifestyle with stolen money.

If convicted, he could spend the next 20 years in U.S. federal prison.

Magu to open defence before Salami panel today

AFTER waiting for a copy of the allegations against him, the Presidential Investigation Committee on the activities of the Economic and Financial Crimes Commission (EFCC), on Wednesday agreed to give  the suspended Acting Chairman of the agency Mr. Ibrahim Magu a report to enter his Defence.

The report is that of the Presidential Committee on Audit of Recovered Assets( PCARA), which contains all allegations against Magu.

But the Chairman of the panel, Justice Isa Ayo Salami extracted a commitment from the counsel to Magu, Barrister Wahab Shittu that PCARA’s report will not be leaked to the press.

Magu, who said all the allegations against him were false, is expected to open his defence today.

The suspended EFCC chairman was at the panel’s venue for about eight hours but he had a brief encounter with the team

Wearing a white Kaftan with a white cap to match, the suspended EFCC chairman took a 78-page response to the committee, bordering on a query by the AGF, PCARA’s report and other allegations in public domain.

The committee however  said it may accept  Magu’s response only after serving him the issues in PCARA’s report.

A top source said: “After waiting for hours, the panel met with Magu for a few minutes. The committee later decided to make a  copy of the PCARA report available to Magu to enable him to address all the allegations against him.

FEC approves N75b youth investment fund

THE Federal Government on Wednesday approved the establishment of the Nigerian Youth Investment Fund (NYIF) to the tune of N75 billion.

The NYIF, which will operate as a youth bank, will create a financial support base for innovative youths aged 18 to 35.

Disclosing this to State House Correspondents after a Federal Executive Council (FEC) meeting, Minister of Youth and Sports Development, Mr Sunday Dare, said youths with ideas and innovation can apply for funding from the youth bank.

“For the first time in the history of Nigeria, the FEC approved the establishment of the Nigerian Youth Investment Fund (NYIF) to the tune of N75 billion.

“This fund is meant to create a special window for accessing credit facilities and financing on the part of our youths that will help to fund their ideas, innovations and support their enterprise.

“The best way to call it is that for the first time the country will have a youth bank – a fund that will cater specifically for our youth within the stipulated age band, which is going to be between 18 and 35 years.

“The second approval secured was for the Ministry of Youth and Sports Development to play a lead role in working on necessary steps that need to be taken in terms of legislation, organisation and other aspects of financing.