Alleged N88.9m Fraud: Court Declares Senior Lawyer, Olokun, Wanted, For Jumping Bail

Alleged N88.9m Fraud: Court Declares Senior Lawyer, Olokun, Wanted, For Jumping Bail

Justice Yellim Bogoro of a Lagos Federal High Court, has issued a warrant for the arrest against a legal practitioner, Ismaila Ahmed Olokun, for his failure to appear in court for trial on alleged $250,000 USD fraud.

Justice Bogoro, who issued the warrant, ordered the operatives of the Special Fraud Unit (SFU) of the Nigerian Police and other security agencies across the country, to arrest Olokun in any part of the country and bring him before the court to face criminal charges filed against him by the police.

Olokun, who hailed from Okpela, Etsako East Local Government Area of Edo State, is facing a five-count criminal charges bordering on false pretence with intent to defraud, fraudulent conversion and issuance of dud cheques, before the court.

He was granted bail on the January 19 2022 but has repeatedly refused to appear in court for trial.

All efforts made by the Law Firm representing the defendant to ensure his appearance before the Court were futile.

Consequently, Justice Bogoro invoked a provision of the Administration of Criminal Justice Act ACJA 2015 and ordered security operatives across the country to arrest the legal practitioner anywhere he is found and bring him to court.

The Judge directed that Olokun, be arrested and detained by security operatives until he is brought before the court. 

Olokun was arraigned before the court on a five count charge for offences hinging on false pretence with intent to defraud, fraudulent conversion and issuance of dud cheques.

The offences according to the prosecutor, Mr. Henry Obiaze, are contrary to and punishable under Section 1(3) of the Advance Fee Fraud and other Fraud Related Offences Act, 2006, Section 390 (8) (b) of the Criminal Code Act Cap. C38 LFN 2004 and Section 1 (a-b) (i) of the Dishonored (Cheques) offences Act, Cap. D11 LFN 2004.

According to the charge filed before the court, the defendant sometime in 2019, allegedly defrauded Edward and Jones Contracting Services Limited to the tune of $250,000 (Two Hundred and Fifty Thousand United States Dollars) equivalent of N88,912,932 (Eighty-Eight Million, Nine Hundred and Thirty-Two Naira Only) under the guise of being the escrow agent between Septegram Investment Limited, TerraGen Energy Solutions Limited and Edward Jones Contracting Services Limited.

Following the issuance of warrant of arrest anyone with useful information about Barrister Ismaila Olokun, should contact the Special Fraud Unit of the Nigerian Police Force, 14 Milverton Road, Ikoyi, Lagos or any of the nearest Police Station.