Alleged N7.5 Billion Fraud: Judge gives November 29 for trial of Ponzi scheme operator, Ajetunmobi

•As judge remands suspect in prison

A Federal High Court, Ikoyi, Lagos, presided over by Justice Chukwuejekwu Aneke on Friday ordered the remand of a Ponzi Scheme Operator, Bamishe Ajetunmobi, who has been on the run since 2021, over alleged fraud to the tune N7.5 billion fraud. 

The judge arrived at the decision after Ajetunmobi pleaded not guilty to a 12 count charge brought against him by the Force Criminal Investigation Department (FCID), Alagbon-Ikoyi, Lagos.

In arraigning the defendant, the prosecutor, Morufu Animashaun, told the court that Ajetunmobi conspired with his wife, Elizabeth Ajetunmobi, who is now at large, using their company, “Imaging Global Solutions Limited”, to defraud their unsuspecting customers.

Justice Aneke was further informed that the defendant and his wife allegedly lured the fraud victims with 10 per cent returns on investment (ROI), to commit the offences.

Among those allegedly defrauded by the defendant and the sums received from them include: Mr Olawale Lawal, N1.5 billion; Mrs Kate Omu, N500 million, Mr Erhi Catherine Ojoboh, N2 billion, and Mr Abioye Idris, N3.5 billion.

According to the prosecutor, the offence committed by the defendant contravened Sections 8 (a), 1(a)(c) and 1 (2) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006 and punishable under Section I (3) of the same Act.

It was also the contention of Animashaun that the offence is contrary to Section 383 of the Criminal Code Cap C38 Laws of the Federation of Nigeria 2004 and punishable under Section 390 (a) of the same.

Before being arraigned, the prosecutor had notified the court that the charge against the defendant was filed in 2022, but the defendant had eloped.

While adding that the defendant was arrested by International Police (Interpol) in the Ivory Coast, this year, the prosecutor prayed Justice Aneke to strike out the name of the defendant’s wife from the charge, so that the defendant’s arraignment can go on.

As a result, the trial judge struck out the name of the defendant’s wife from the charge and ordered that the charge be read to the defendant.

Meanwhile, the defendant was not represented by any lawyer.

Following the defendant’s not-guilty plea, the prosecutor prayed to the court for a trial date. He also urged the court to remand the defendant in the custody of the Nigerian Correctional Services (NCoS) until the determination of the charge against him.

Consequently, Justice Aneke ordered that the defendant be remanded at the Ikoyi facility of the Nigerian Correctional Services, and adjourned the matter until November 29, for trial.

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