The Economic and Financial Crimes Commission (EFCC) has arraigned three men and a company before a Lagos Special Offences Court, Ikeja, over allegations of their involvement in a N46.3 million forex fraud.

The defendants: Osita Nduh; Destiny Osita International Limited; Elder Ugbine, popularly known as Elderly Man Mega Links; and Idika Williams, also known as Makapella were arraigned before Justice Mojisola Dada.

They were charged on a four-count indictment bordering on conspiracy, stealing, obtaining by false pretence, and receiving fraudulently obtained property.

The prosecuting counsel, Mr Nnaemeka Omewa, told the court that the defendants, along with others now at large, conspired and dishonestly converted to their own use the sum of N46.3 million belonging to one Mr Chigozie Amadike under false pretences.

He explained that the defendants had pretended to be forex dealers and claimed to have the Chinese RMB equivalent of the said sum (377,150 RMB), which they promised to transfer to Amadike’s customer’s account in China, a representation they allegedly knew to be false.

The prosecutor further told the court that one of the defendants, Ugbine, dishonestly retained the sum of N50 million in his company’s account.

The alleged offences are contrary to the provisions of Sections 278(1)(b) and 285(9) of the Criminal Law of Lagos State, 2011, and Sections 1(1)(a) and 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.

The defendants, however, pleaded not guilty to all the charges.

Omewa then prayed the court for a trial date and requested that the defendants be remanded at a correctional facility.

However, the defence counsel urged the court to allow his clients to continue enjoying the administrative bail earlier granted by the EFCC.

The judge granted the request and ordered that the defendants continue to enjoy their EFCC administrative bail. The case was adjourned to June 16 for the commencement of trial.