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Man, 26, docked over alleged N42.4m forex scam

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A 26-year-old man, Babajide Fasasi, who allegedly obtained N42.4 million under the pretext of buying foreign currencies, on Friday appeared  before a Surulere Chief Magistrates’ Court, Lagos.

Fasasi whose address was not given, however, pleaded not guilty to a four-count charge of conspiracy, obtaining by false pretences, breach of public peace and stealing.

The Prosecutor, Sgt. Anthonia Osayande, told the court that Fasasi and others still at large committed the offences in or before January at No 25, Ikare St., Surulere, Lagos.

Osayande alleged that Fasasi and the others posed as dealers in foreign exchange  and fraudulently obtained  N42.4 million from  Messrs Egieya Musa and Aderewaju Okupe.

She said that Fasasi and the others conspired to open a fake website linked to their personal accounts to carry out the act.

She submitted that Musa and Okupe realised they had been duped when Fasasi  stopped giving them feedback from the trade since January.

Osayande said that the offences  contravened Sections 168 (d) 287, 314 (1) (2) (3) and 411 of the Criminal Law of Lagos State, 2015.

The Chief Magistrate, Mrs Oluyemisi Adelaja, granted the defendant bail in the sum of N2 million with responsible sureties.

She ordered that one of the sureties must be a blood relation of the defendant and the other, a landlord.

Adelaja adjourned the case until Sept. 4 for trial.

IOI/IGO

Edited by Ijeoma Popoola

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