The trial of an alleged Ponzi Scheme Operator, Bamise Ajetunmobi, who allegedly defrauded unsuspecting nvestors of the sum of N7.5 billion fraud, has commence before a Federal High Court.
Ajetunmobi alongside his wife, Elizabeth, who is said to be at large and their company, Imaging Global Solutions Limited, were charged before the court on alleged a 12 count-charge of conspiracy, obtaining by false pretence and N7. 5 billion fraud.
Ajetunmobi was first arraigned before the court presided over by Justice Chukwujekwu Aneke, by the Force Criminal Investigation Department (ForceCID) Annex Alagbon-Ikoyi Lagos, sometimes in 2023.
As at time of arraignment, the prosecutor, Barrister Morufu Animashaun, had told the court that the defendant committed the offences something in February 2021.
To commit the alleged fraud, Animashaun informed the court that the defendant and his wife lured the fraud victims with 10 percent returns on investment (ROI).
Those allegedly defrauded by the defendant and the sums received from them are: Mr. Olawale Lawal, N1.5 billion; Mrs. Kate Omu, N500 million, Mr. Erhi Catherine Ojoboh, N2 billion, and Mr. Abioye Idris, N3.5 billion.
He had told the court that the offences committed by the defendant contravened sections 8 (a), 1(a)(c) and 1 (2) of the Advance Fee fraud and other Fraud related Offences Act, 2006 and punishable under Section I (3) of the same Act.
He also told the court that the offences are contrary to section 383 of the Criminal Code Cap C38 Laws of the Federation of Nigeria 2004 and punishable under Section 390 (a) of the same.
But, midway to the the matter, it case file was taken over by the office of the Attorney-General of the Federation (AGF), while Mrs. Kehinde Bode-Ayeni, became the prosecutor.
At the resumed hearing of the charge Tuesday, Barrister Bode-Ayeni, told the court that the defendant, has failed to keep to his words of settling the matter out of court, hence she is ready to commence trial.
But defendant’s lawyer, Dr. B. U. Ikpenwa, pleaded to court for more time to further discuss on out of court settlement.
But the prosecutor pleaded with the court to commence the trial of the case, adding that if parties are able to settle the matter before next adjourned date.
In commencing the trial, the prosecution called its first witness, Oluyemi Oyewole, a lawyer and a Director with DLA Piper Africa, who narrated to court, how he was lured by the defendant and paid the sum of N100 million, with a promise of getting 10 percent of return on investment.
Oluyemi further told the court that he made the payment between April and May 2021. Adding that he started getting suspicious of the defendant activities in August 2021, when he delays in payment of his interest. And that he also discovered the defendant living an extravagant lifestyle, as he acquired several properties and expensive cars and travelling.
The witness further told the court that he heard from the news that it was when the defendant was trying to flee the country to an offshore island and that he was barred from entry the country. Adding that he later heard that the defendant was arrested in Ivory Coast.
