The Federal High Court sitting in Lagos yesterday remanded a suspected Ponzi scheme operator, Mr. Bamishe Ajetunmobi, wanted by the police since 2021, for an alleged N7.5 billion fraud.
Justice Chukwuejekwu Aneke ordered that Ajetunmobi be kept in the custody of the Nigerian Correctional Services (NCoS) pending the determination of charges filed by the police against him.
He adjourned till November 29, for commencement of trial.
The judge’s order followed the defendant’s arraignment on a 12-count charge by the Force Criminal Investigation Department (ForceCID Annex) Alagbon-Ikoyi, Lagos.
Ajetunmobi pleaded not guilty.
Prosecution counsel Mr. Morufu Animashaun of the FCID’s legal office told the court that the defendant committed the offence sometime in February 2021 in a conspiracy with his wife, Elizabeth Ajetunmobi, who is now at large, and their firm, Imagine Global Solutions Limited.
The couple, the court heard, allegedly defrauded Nigerian investors by, among others, luring them with a 10 per cent return on investment (ROI).
Those allegedly defrauded by the defendants and the sums received from them included Mr. Olawale Lawal, N1.5 billion; Mrs. Kate Omu, N500 million, Mr. Erhi Catherine Ojoboh, N2 billion, and Mr. Abioye Idris, N3.5 billion.
The prosecutor told the court that the offences contravened sections 8 (a), 1(a)(c) and 1 (2) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006 which were punishable under Section 1 (3) of the same Act.