A Federal High Court sitting in Awka and commanded by Justice Nnamdi Dimgba, has remanded in jail custody a Bureau De Change operator, Chibueze Ojeh, over allegation of $950,000 fraud.

Ojeh will stay in prison, pending the perfection of his bail conditions. He was arraigned on Tuesday, for acquiring money through deceptive ways from an entrepreneur.

Approved bail and released to their attorneys after perfecting other bail conditions were two other ex bankers, Obinna Nwosu and Emeka Njoku, who were likewise included in the matter.

The trio had a case of advanced cost fraud, conspiracy to commit felony and obtaining by false pretence chosen against them and some companies by the Inspector General of Police.

In the matter, with Charge No FHC/AWK/ C/25/2020, Simon Lough SAN, Prosecuting Counsel, from the Legal Prosecution Section, Police Headquarters Abuja through Augustine Oboh told the court yesterday, that: “The three suspects, Chibueze Ojeh, Obinna Nwosu, Emeka Njoku and the two business, Castle Equipment & & Logistic LTD and a commercial bank had on between 3rd April 2013 and 31st June 2013 in Lagos, within the jurisdiction of this Honourable court while acting in concert and with intent to defraud Chief Nnamdi Ezenwa MD/CEO of Vinna Investment Limited, conspired together to commit felony to wit: getting money to the sum of $950,000.00 (Nine Hundred and Fifty Thousand United States Dollars) from him.”

In the 3 count charges, the prosecuting counsel declared that the that the trio acted in performance and deceitfully induced Chief Ezenwa of Vinna Investment through an arrangement and gathered the stated $950,000 currently valued at about N551, 000,000 (Five hundred and fifty one million naira) from him on the pretext to transfer the money to his customers in Italy and never ever did but rather transformed same to their personal usage.

The offenses according to the prosecutor contrast sections 8(a) and 1( 1) and punishable under areas 1( 3) of the Advance Fee Fraud and Other Related Offences Act, 2006.

The 3 defendants, however, pleaded not guilty to the charges and following the bail application and pleas of their legal representatives, the court admitted the very first defendant on bail with the amount of N100 million and 2 surety who must be landed property owners within Lagos, Abuja, Port harcourt or Anambra in integrated like sums of N300 million and to remain in prison custody pending the fulfillment of the bail conditions.

The 2nd and 3rd accused were likewise granted bail of N50m and N10m in like sum with two surety all of whom need to be civil servants of not less than grade 12 in either the state or federal civil service.

Released to their legal representatives, they have 5 days grace to best the bail conditions or be remanded in jail custody too. The matter was adjourned till March 16, 2022 for trial.