Bureau de change operators docked over N160million fraud

Bureau de change operators docked over N160million fraud

Tuesday, September 5, 2017 10:53 pm

Court’s verdict

By Akin Kuponiyi

Special Fraud unit (SFU) of the Nigerian Police Force, today arraigned before a Federal high court Ikoyi Lagos, south west Nigeria, two bureau de change operators,Uju Peace Izuogu, Richard Owegie, and their company Reoworld Enterprises over an alleged N162 million fraud.

Uju and Richard alongside their company, Reoworld Enterprises Limited, were arraigned before the court on charges bordering on conspiracy, false representation and fraud.

In a criminal charge number FHC/L/295c/17, filed before the court, it was alleged that the two accused persons who are Bureau De Change Operators, between January and May, 2016, conspired among themselves and obtained the sum of N162 million from a lawyer, Nwosu Maduabuchi, under false representation that they had US Dollars equivalent for immediate sale and transfer for the lawyer’s clients in Dubai and China, for international business transactions.

The SFU alleged further that the second accused, Richard Owegie aided the first accused, Uju, to obtain the sum of N162 million from the Complainant (Barrister Nwosu), who sourced the money from his different clients, and allowed his Diamond Bank account to be used to receive and retain the money, and later diverted and disbursed it to third parties on the instructions of the first accused.

The offences, according to the prosecutor, Chief Superintendent of Police Mr. E. A. Jackson, are contrary to and punishable under sections 8(a) and 1(3), and 1(a) and 1(3) of the Advance Fee Fraud and other Fraud Related Offences Act No. 14 of 2014.

All the accused persons pleaded not guilty to the charges.

However, attempt by their lawyer, E. E. Okoli, to move their bail application hit the rock, as the presiding judge, ordered that the case file be returned to the administrative judge, owning to the fact that vacation will end in three days, and that he may not be able to adjudicate on the bail application,thereafter.

Consequently, the judge ordered that the first accused, Uju Peace Izuogu, be remanded at the female section of the Kirikiri Prison, and that second accused be remanded at Ikoyi Prison, pending the assignment of the case file to the substantive judge.

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