A suspected fraudster, Oluwatomilola Balogun and two companies, Twelvest Limited and Vestract Limited, are scheduled to appear in Lagos High Court on March 27.
The companies are accused of being used as a tool to commit fraud amounting to N69m and $10,000.
The State Department of Public Prosecution has filed a four-count charge against the defendants for obtaining money under false pretences, contrary to Section 314(3) of the Criminal Law, Ch. C17, Vol.3, Laws of Lagos State, 2015.
According to the charge information, Oluwatomilola Balogun, Twelvest Limited, and Vestract Limited allegedly obtained money from four victims by posing as financial advisors and promising them high returns on investment.
Specifically, they allegedly obtained N36,671,000.00 and $5,000 from Omobolanle George Epebitie, N12,000,000.00 and $4,000 from Eriye Onagoruwa, N5,585,000.00 and $1,000 from Adeola Odunlami, and N14,500,000.00 from Modupe Ayeni.
The Special Fraud Unit of the Nigeria Police conducted the investigation and is expected to produce the flight risk defendant for trial.
DPP will conduct the trial before Justice Ibironke Harrison led court.
