A Lagos court has ordered that Ponzi scheme operator, Bamise Ajetunmobi, who fled the country in 2021, over an alleged N7.5 billion fraud, be remanded.
Justice Chukwuejekwu Aneke of the Federal High Court, Lagos, gave the order on Friday.
Bamise was arraigned on a 12-count charge made against him by the Force Criminal Investigation Department Force CID (Annex) Alagbon-Ikoyi, Lagos. The defendant pleaded not guilty.
According to prosecution counsel, Morufu Animashaun, the defendant conspired with his wife, Elizabeth, who is still at large, and their company, to lure victims with a fraudulent 10 percent return on investment.
Animashaun 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 were punishable under Section 1 (3) of the same Act.
He said that the offences were 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.
The prosecutor also told the court that the charge against the defendant was filed in 2022, and when the defendant became elusive, the police secured a warrant of arrest from the court.
The defendant was arrested by the International Police (Interpol) in Cote D’Ivoire earlier this year.
