Alleged Fraud: Court Issues Bench Warrant Against Ponzi Scheme Operator

Dr. Victoria Yemisi Imase-Regal

Justice Tijjani Ringim of a Lagos Federal High Court, today, issued a bench warrant against an alleged Ponzi scheme operator, Dr. Victoria Yemisi Imase-Regal, over alleged N36.45 million fraud.

Justice Ringim issued the bench warrant against the Ponzi scheme operator, following a request made by Mr. Justin I. Enang, a prosecutor from Police Special Fraud Unit (PSFU) Ikoyi, Lagos.

PSFU had dragged the defendant alongside her four companies before the court on a seven-count charge of conspiracy, obtaining by false pretence and issuance of dud cheques.

The defendant’s four companies charge with her before the court are: Yellowpoint Group, Media Enterprise, Yellowpoint Investment Limited and Yellowpoint FT. International Limited.

The police alleged that the woman had used her companies to defraud his victims of the above stated sum, on false pretence of given them Multiple Return on Investment.

Among those allegedly defrauded by the defendant includes: Iyoha Ihesekhen Gabriel; Adebeshin Edward Opeoluwa: Kayode Valentine Fowode and Samson Adekunle Martins.

She was also accused of issuing two Access bank’s cheques with the monetary value of N18. 45 million and N18 million, to Mr. Iyoha Ihesekhen Gabriel, which were presented for payment, on the date stated therein, but both cheques was rejected on the ground that there was insufficient funds Standing in the account.

The prosecutor told the court that the offences committed by the defendant, are contrary to Section 8(a); 1(1)(a) and punishable under Section 1(3) of the Advance Fee fraud and other Fraud Related Offences Act, 2006. 

The prosecutor also told the court that the offence is contrary to and punishable under Section 1(1) of the Dishonoured Cheques Act, Cap 011, Laws of the Federation of Nigeria, 2004. 

However, since the charge was filed, the defendant is yet to appear in court to take her plea.

When the matter came up for hearing today, the prosecutor, told the court that the defendant has never shown up since she was granted administrative bail by the police.

The prosecutor therefore urged the court to issue a bench warrant against her.

Justice Ringim in his bench ruling, held that: “Bench Warrant is hereby issued against the defendant”.

The judge, while adjourning the matter till April 4, 2023, for the arraignment of the defendant, however held that the police can approach the court for her arraignment, if she is arrested before the adjourned date.

In the same vain, police from Forced CID, headquarters, Abuja, on Tuesday, issued a bulletin declaring the defendant wanted.