Man lands in court for alleged N19.6m forex fraud

A man, Omolayo Kayode was on Monday arraigned before the Federal High Court sitting in Ado Ekiti, the Ekiti State capital, for allegedly obtaining the sum of N19,600,000 from one Eric Ben under false pretense.

The prosecutor, DSP Femi Falade, told the court that the accused committed the offence between August and September, 2012 in Ado-Ekiti.

The charge sheet with number FHC/AD/27c/2016 read thus: “That you, Omolayo Kayode sometimes between August and September, 2012 in Ado-Ekiti, within Ado-Ekiti Judicial Division, under false pretence of being a Forex trader and with intent to defraud, did obtain the sum of N19,600,000 from one Eric Chechet.

According to the prosecutor, “the offence committed is punishable under Sections 1(3) and 11 of Advance Fee Fraud and Other Related Offences Act, 2006.”

Falade also told the court that he had three witnesses to prove his case and prayed for an adjournment to enable him prepare for the case.

The accused pleaded not guilty to the one-count charge against him, when the charge was read to him by the court.

Following the charges and the plea, counsel for the accused, Mr Rotimi Adabembe, filed a 44-paragraph affidavit for bail in favour of his client in pursuant to Sections 158 to 165 of the Administration of Criminal Justice Act, 2016.

However, the prosecution opposed the motion for application for bail.

The trial judge, Justice D.U. Okorowo granted bail to the accused in the sum of N5,000,000 and one surety in like sum.

Justice Okorowo added that the surety should have a landed property within the court’s jurisdiction worth N5,000,000 and that the Certificate of Occupancy of the property be submitted to the court’s Registrar.

He, thereafter, adjourned the case till November 23 and December 7 for definite hearing.