THE Economic and Financial Crimes Commission( EFCC), has arraigned a former member of the Kwara State House of Assembly, Oladimeji Mohammed Edun alongside his company, Zarab Ventures Limited over N82.5 million fraud.

The former lawmaker was arraigned before Justice Mahmud Abdulgafar of the High Court sitting in Ilorin on a 3-count charge bordering on criminal diversion of funds.

EFCC' spokesman, Wilson Uwujaren, said in a statement that Edun, allegedly secured a contract for his company, Zarab Ventures Limited, for drilling of 43 motorized boreholes across different locations in the state under the Millennium Development Goals (MDGs), Conditional Grant Scheme, project to the tune of N82.5m between 2008 and 2009, but abandoned the projects after collecting 90 percent of the contract sum.

Count three of the charge reads: “That you, Oladimeji Moh Edun (being managing director/chief executive officer and sole signatory of Zarab Ventures Limited) and Zarab Ventures Limited on or about May 21, 2009 in Ilorin within the Ilorin Judicial Division of the High Court of Kwara State, while in such capacity did dishonestly misappropriate the sum of N7,000,000.00 (seven million naira) which was part of the money entrusted to you by the Kwara State MDG’S- CGS for the construction of boreholes in some local government areas and you thereby committed an offence contrary to Section 308 of the Penal Code and punishable under Section 309 of the same Act.