Ex-Banker Docked Over N435m Forex Fraud

An ex-banker, who allegedly defrauded 26 different persons of N435 million, was, yesterday, charged before an Igbosere Magistrate’s Court, Lagos. The defendant, Adebayo Ogunusi, 41, is facing a 26-count charge on fraud.

The prosecutor, Raymond Akhaine, told the court that the defendant committed the alleged offences between May and August in Lagos. He claimed that the defendant obtained N435 million from 26 persons under the guise that he was going to give them the dollar equivalent of the money.

Akhaine said the defendant knew that the representation he made was false, adding that the offences committed were contrary to Section 312 (1) (a) of the Criminal Law of Lagos State, 2011. However, the defendant pleaded not guilty to the charge.

Counsel to the defendant, Mr. Ayo Durojaiye, urged the court to admit the defendant to bail on liberal terms. Presiding Magistrate, Mrs. A. O. Awogboro, admitted him to N10 million bail, with two sureties in like sum and adjourned the case till December 15 for mention.