31-year-old man in court for alleged N6.04m FOREX trading fraud
By Sodiq Adelakun
A 31-year-old man, Eghiewe Aigotsua, was arraigned before a Badagry Magistrates’ Court in Lagos State on Wednesday for allegedly obtaining N6.04 million from a complainant under false pretenses.
The police prosecutor, ASP Clement Okuoimose, informed the court that Aigotsua fraudulently obtained the money from Adewale Adebiyi by promising to introduce him to FOREX trading.
However, Aigotsua failed to fulfill his promise and instead used the money for personal gain. The offense was committed in the Oko-Afo, Morogbo area of Badagry in August 2022, which is a violation of the Criminal Laws of Lagos State (2015).
Despite the charges, Aigotsua pleaded not guilty.
The presiding Chief Magistrate, Mr. Fadahunsi Adefioye, granted the accused bail in the sum of N2 million with two sureties in like sum.
The sureties must be responsible citizens residing in Lagos State and should be gainfully employed in a reputable company or government establishment.
The case was adjourned to September 19 for mention. This incident highlights the prevalence of fraudulent activities in the FOREX trading industry, where unsuspecting individuals are often lured into investing large sums of money with promises of high returns.
It serves as a reminder for individuals to exercise caution and conduct thorough research before engaging in any financial transactions.
The police prosecutor’s swift action in bringing the accused to court demonstrates the commitment of law enforcement agencies in Lagos State to combatting financial crimes.
By holding individuals accountable for their actions, the authorities aim to deter others from engaging in similar fraudulent activities.
The court’s decision to grant bail to the accused reflects the principle of presumption of innocence until proven guilty.
However, the conditions set for the bail ensure that Aigotsua remains within the jurisdiction and that there are responsible individuals who can vouch for his appearance in court.
The adjournment of the case to September 19 allows both the prosecution and defense to prepare their arguments and gather evidence.
However, the outcome of this trial will not only determine the fate of the accused but also serve as a precedent for future cases involving fraudulent activities in the FOREX trading industry.
The arraignment of Eghiewe Aigotsua before the Badagry Magistrates’ Court highlights the alleged fraudulent obtaining of N6.04 million from a complainant under false pretenses.
The court’s decision to grant bail and the subsequent adjournment of the case demonstrate the commitment of the legal system in Lagos State to ensuring a fair and just trial.
