Alleged Fraud: Associate Petitions Interpol As Malaysian Firm’s Owner, Others Abscond

As the Malaysian founder of Edmark Group invited by Interpol over sundry allegations of money laundering, terrorism financing, and other financial crimes absconded with others and closed shop in Nigeria, his partner, Maurice Etim, has solicited the aid of International Police (Interpol), for their repatriation to face justice in the country.

Sam Low Ban Chai, founder and chairman of Edmark Industries with headquarters in Malaysia, was learnt to have been invited by the International Criminal Police Organisation (Interpol) to answer questions regarding serious allegations of money laundering and terrorism financing.

The allegations stem from a petition filed by Maurice Etim, a minority partner and director in several Edmark Group companies in Nigeria. Etim claimed that Sam Low Ban Chai, forged his signature on corporate resolutions, financial statements, and tax returns, and also opened and closed over 500 bank accounts without his knowledge or approval.

According to the petitioner in a statement made available to journalists in Uyo, the Akwa Ibom State capital, yesterday, the fleeing expatriate was summoned to appear before the Interpol team in Abuja since April, but he hurriedly closed shop and fled the country.

Investigation, he explained, had revealed that Sam Low Ban Chai’s actions were in flagrant disregard of the board resolutions and approvals, and were prejudicial to his interests.

He said: “The invitation from Interpol requests Sam Low Ban Chai’s presence at the Interpol head office in Abuja, Nigeria, for an interview with the Assistant Inspector General of Police (AIGP) and Head, National Central Bureau, Interpol.

“Similar allegations have been leveled against Donald Anih, head of Edmark’s legal department and company secretary, who was appointed without board resolution and approval. Following Interpol’s investigation, Sam Low Ban Chai fled Nigeria and moved all foreign staff in eleven branches nationwide.”

He recalled that “from Malaysia, instead of facing the charges levelled against him, Chai hired Ebun Adegboruwa, a Senior Advocate of Nigeria (SAN), who has been accused of frustrating several court orders and police investigations.”

“As such, legal experts are questioning why a respected lawyer like Adegboruwa would hinder the investigation into these serious allegations.

“The case bears similarities to the recent charges filed by the Federal Government of Nigeria against Binance, a top crypto firm, for laundering $35.4 million, tax evasion offenses, and financing terrorism.

“The actions of Sam Low Ban Chai and Edmark Group are part of a broader international pattern of money laundering and terrorism financing, and  the Courts should hold the company and its executives accountable,” he stressed.