Woman, 26, arraigned for alleged N3m FOREX fraud

A 26-year-old businesswoman, Oluwaseun Afolabi, who allegedly obtained three million naira under false pretences, on Wednesday appeared before an Ikeja Magistrates’ Court.

The defendant, who resides at Gbagada, Lagos State, appeared before Magistrate O. A. Odubayo on a two-count charge of stealing and obtaining money under false pretences.

Afolabi, however, denied committing the offences and was admitted to bail in the sum of N500,000 with two sureties in like sum.

The court held that the sureties should be gainfully employed and show evidence of two years’ tax payment to Lagos State government.

Earlier, the prosecutor, Sgt. Olasunkanmi Adejumola, told the court that the defendant committed the offences on April 8 at Alausa, Ikeja.

He alleged that the defendant fraudulently obtained the sum from one Mr Adeyinka Adewunmi on the pretext of helping him to invest in FOREX trading.

“The defendant persuaded the complainant (Adewunmi) to invest his money and get interest immediately.

“After the complainant sent the money into the defendant’s account, she refused to invest it but converted it to her own use.

“Efforts made by the complainant to retrieve the money proved unsuccessful.

“The complainant reported the case and the defendant was arrested,” he said.

The case has been adjourned until July 19 for mention.

The alleged offences violate Sections 287 and 314 of the Criminal Law of Lagos State, 2015.

Section 287 stipulates three years’ imprisonment for stealing while Section 314 provides for 15 years’ jail term for obtaining money under false pretences.