Businessman Arraigned for Alleged N343m Fraud, Funds Misappropriation

 


The Force Criminal Investigation Department (ForceCID) Annex in Alagbon-Ikoyi, Lagos, has arraigned a businessman, Ogochukwu Vincent Ofodume, before a Federal High Court in Lagos on charges of conspiracy, obtaining by false pretence, unlawful conversion of funds, and fraud totalling N342.997 million. 

Ofodume, alongside his companies—Big V.I.P. Excallance Limited, V.I.P. Impress Hollywood Limited, and V.I.P. Apartments Limited—was brought before Justice Alexander Owoeye by Morufu Animashaun, a legal officer with the ForceCID. The alleged crimes were committed in 2023. 

Addressing the court, the prosecution alleged that Ofodume fraudulently obtained 1,228 bales of wax clothes valued at N202.62 million from a Chinese businessman, Zhu Yan Qin, through an intermediary, Igwe Ejiofor Kelvin. 

He is also accused of collecting N45.2 million under false pretences, claiming the funds were to purchase timber from Guinea for shipment to China. 

According to the prosecution, the defendant instead used the funds to construct luxury apartments under his firm, V.I.P. Apartments Limited. 

The alleged acts contravene sections of the Advance Fee Fraud and Other Fraud Related Offences Act 2006, as well as the Criminal Code Act. 

But the defendant pleaded not guilty to all charges, making the prosecution request a trial date and urging the court to remand the defendant to the Nigerian Correctional Services (NCoS) pending trial. 

However, defence counsel, Felicia Nosike sought bail for her client, which the court directed to be formally filed. 

Justice Owoeye adjourned the case to March 28, 2025, for trial and ordered Ofodume's remand pending the hearing of his bail application. 

Before the arraignment, Ofodume had filed an N100 million fundamental rights enforcement suit against the Inspector General of Police, Interpol officers, and Zhu Yan Qin. 

However, the suit was dismissed in November 2024 by Justice Friday Ogazi for lacking merit, with a punitive cost imposed.

Some of the charges include obtaining money under false pretence, conspiracy, and unlawful conversion of funds for personal use. 

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