The owner of Innoson Motors, Chief Innocent Chukwuma,who was arrested  on Tuesday b the Economic and Financial Crimes Commission (EFCC) has been released on bail.

Chukwuma and his brother, Charles Chukwuma according to EFCC were being investigated for N1, 478,366,859.66 fraud and forgery.

He was further accused of using fake documents to obtain tax waivers.

Head of Media and Publicity of EFCC, Mr. Wilson Uwujaren, said: “The EFCC has released the Nnewi, Anambra-State born industrialist, Chief Innocent Chukwuma, on bail.

“The businessman who runs a local auto assembly plant was arrested on Tuesday December 19, 2017 at his Enugu residence, following his refusal to respond to invitations by the commission, after initially being granted administrative bail by the commission, while his surety could also not be found.

“Unfortunately, the industrialist resisted arrest and stirred controversy by bringing six truck-loads of thugs to block the entrance to his Plot W1, Industrial Layout, Abakaliki Road, Emene, Enugu home.

“This was after he initially misled the Police Command by informing them that his home had been invaded by armed robbers and kidnappers despite the fact that operatives of the commission duly identified themselves to policemen guarding his home.

“His unruly thugs encircled and manhandled operatives of the commission, who had gone to affect the arrest.

“Consequently, a distress call was sent to the commission’s Enugu Office for reinforcement.

“In all of this, the commission’s operatives acted with decorum and civility.

“No one was manhandled or assaulted by the EFCC team, and not a single shot was fired, despite the provocation.”

The statement added: “Chief Chukwuma and his brother, Charles Chukwuma (who is still at large), are being investigated by the Insurance and Capital Market Fraud Section of the commission’s office in Lagos over matters bordering on N1, 478,366,859.66 fraud and forgery.

“The industrialist, among other infractions, allegedly used forged documents to secure tax waivers.”