Forex Fraud: Seun Egbegbe Has Case To Answer, Court Rules
A federal high court in Lagos on Wednesday ruled that the polic had made a prima facie case of fraud against a former Lagos socialite and Nollywood film-maker, Olajide Kareem, alias Seun Egbegbe and his co-defendants.
The defendants’ no-case submissions were dismissed and adjourned by Justice Oluremi Oguntoyinbo till January 12, 2021 for them to open their defence.
Egbegbe is standing trial alongside Oyekan Ayomide, Lawal Kareem, Olalekan Yusuf and Muyideen Shoyombo on a 40-count charge.
According to the police, the defendants defrauded no fewer than 30 Bureau De Change operators in Lagos of various sums, in local and foreign currencies, between 2015 and 2017.
Prosecuting counsel Innocent Anyigor claimed in the charge that Egbegbe and his gang swindled the BDC operators of N39, 098,100, $90,000 and £12,550 over a period of two years.
The prosecutor alleged that they obtained the money from their victims by deceiving them that they either had foreign currencies to sell to or buy from the BDC operators.
Anyigor said the defendants acted contrary to Section 8 of the Advanced Fee Fraud and Other Related Offences Act 2006 and were liable to be punished under Section 1(3) of the same.
The defendants pleaded not guilty.