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EFCC arraigns businessman over alleged N20 million fraud

By Yetunde Ayobami Ojo 
06 July 2022   |   3:07 am
The Economic and Financial Crimes Commission (EFCC), yesterday, arraigned one Solomon Idonije before a Lagos Special Offences Court, Ikeja, on allegation of N20 million foreign exchange fraud.

EFCC

The Economic and Financial Crimes Commission (EFCC), yesterday, arraigned one Solomon Idonije before a Lagos Special Offences Court, Ikeja, on allegation of N20 million foreign exchange fraud.

 
Idonije was arraigned before Justice Oluwatoyin Taiwo on seven- count charge bordering on obtaining the sum of N20,080,000  under false pretences.
 
The anti-graft alleged that the defendant (Idonije) on December 21, 2020 in Lagos, obtained the sum of N4.8million from Iyen Omowuiugbe for Forex Trade through Solomon Ace Forex Investments. 
 
The defendant was said to have on December 23, 2020 obtained N4.1million from Omowuiugbe for falsely representing to him that the money was for Forex Trade through Solomon Ace Forex Investments and that as an investor, hewill be entitled to 25per cent ROI (Return on Investment) in 25 days, whereas he used the money to offset his debts to other investors in the company.
 
The prosecution said his offences contravene Section 1(1) and 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.
 
Following Idonije’s plea of not guilty to all the counts, the prosecuting counsel, Mr. Gabriel Akaogu, prayed the court for a trial date.
 
However, the defendant’s counsel, Mr. Jonathan Okagbero, told the court that he has filed a bail application for the defendant.
 
But Justice Taiwo ordered that the defendant be remanded in EFCC’s custody and adjourned to July 13 for hearing of his bail application.
 
 
 

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