Man in court for alleged N27m Forex fraud

A 65-year-old man, Felix Adeyemi, was on Friday docked in an Iyaganku Magistrates’ Court, Ibadan, for alleged N27. 2 million Forex fraud.

Adeyemi, whose residential address was not provided, is charged with obtaining money under false pretence and theft.

The Prosecution Counsel, Insp. Olufemi Omilana, told the court that the defendant allegedly committed the offence on May 10 at the Oluyole area, Ibadan.

Omilana alleged that Adeyemi obtained the money from Coleman Technical Industries Ltd, represented by one Sanusi Ilori.

He alleged that the defendant obtained the money under false pretence of selling Forex to Ilori, knowing it was false.

According to him, the offence contravenes the provisions of sections 419 and 390(9) of the Criminal laws of Oyo State, 2000.

The defendant, however, pleaded not guilty to the charge.

The Magistrate, Mrs. M. I Giwa-Babalola, admitted the defendant to bail in the sum of N5 million and two sureties in like sum.

She adjourned the case until Nov. 29 for hearing.