On Tuesday, October 12, the Economic and Financial Crimes Commission, EFCC, Ibadan Zonal Command, arraigned one Toluwalade John Olateru Olagbegi before Justice Uche Agomoh of the Federal High Court in Ibadan on one count charge of acquiring money by false pretence to the tune of 35 million naira (N35,500,000:00).
According to a statement made by the Commission’s Head of Media & Publicity, Wilson Uwujaren, the Owo Prince of Ondo State, who resides in Bodija, allegedly collected the money from the complainant under the guise of forex trading.
The charge is as follows:
“That you, Toluwalade John Olateru-Olagbegi, obtained the sum of Thirty-Five Million and Five Hundred Thousand Naira (N35,500,000:00) only from Julius Olorunsogo Alase (a Nigeria Businessman) on behalf of Lusan Royal Trading on or about March 4, 2021, at Ibadan within the Ibadan Judicial Division of this Honourable Court with the intent to defraud, on or
you knew to be fraudulent, and as a result, you committed an offence under section 1(1)(a) of the Advance Fee Fraud and Other Fraud Related Offences Act 2006, punishable under section 1(3).”
When the charge was read to the defendant, he pleaded ‘not guilty.’
Following that, Justice Agomoh directed that the defendant be remanded in the Nigerian Correctional Centre, Agodi, and that the matter be adjourned until October 25, 2021, for the hearing of the bail application, and November 15, 2021, for the start of the trial.