The Economic and Financial Crimes Commission today arraigned Madlion Shedrack before Justice Tukur Muazu Aliyu of the Kaduna State High Court on two count charge of misappropriation of funds.
Madlion, who is the Managing Director of Admiral Environmental Care, allegedly obtained the sum of N7.2m in two instalments from the Umar Mustafa for the purchase of Bulls from Brazil but failed to deliver.
The charge read, “that you Madlion Shedrack between May and August 2008 at Kaduna within the Jurisdiction of the High Court of Kaduna State, dishonestly misappropriated the sum of N3, 500,000 (Three Million Five Hundred Thousand Naira Only) given to you by Dr Umar Musa Mustafa for the purchase of Bulls and you thereby committed an offence punishable under section 309 of the Penal Code”.
“That you Madlion Shedrack between May and August 2008 at Kaduna within the Jurisdiction of the High Court of Kaduna State, dishonestly misappropriated the sum of N3, 700,000 (Three Million Seven Hundred Thousand Naira Only) given to you by Dr Umar Musa Mustafa for the purchase of Bulls and you thereby committed an offence punishable under section 309 of the Penal Code”.
The accused pleaded not guilty.
The presiding judge adjourned the case to February 26, 2013 for hearing of bail application and ordered that the accused be remanded in EFCC.