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N437m Fraud: Court Fixes Mar. 10 for Trial of 3 BDC Operators

N437m Fraud: Court Fixes Mar. 10 for Trial of 3 BDC Operators

The trial of three Bureau De Change (BDC) Operators, who allegedly defrauded a company of N437 million, has been fixed for March 10, 2020, by a Federal High Court, Lagos.

The three BDC operators;  Jimmy Ibrahim, Obianuju Tessy Umejesi and Uche Madubuko. 

The three BDC operators who operates under the names of Regis Bureau De Change, Jayjibs Ventures, Johim Ventures and Jajibs Bureau De Change were first arraigned before Justice Nicholas Oweibo, by the men of Police Special Fruad Unit (PSFU), Ikoyi, Lagos, on August 22, 2019, on a five count-charge of conspiracy, fraud and issuance of dud cheques.

PSFU had alleged in a charge marked FHC/L/292c/19, that the three defendants had sometimes in January 2019, fraudulently obtained the sum of N437 million from a company with false pretence of giving him $1.2 million USD equivalent.

One of the BDC Operators, Jimmy Ibrahim, was said to have issued  in  three United Bank for Africa (UBA) cheques numbers: 77046252; 77046253 and 77046254 from account number 1015196430, with the total value of N73 million, in April, May and June 2019, but were dishonoured for insufficient funds.

The offences according to the police are contrary to and punishable under 8(a), 1(1)(a) of the Advance Fee Fraud  and other related offences Act. No. 14, of 2006. And Section 1(a)(i) of the Dishonoured Cheques (offences) Act 2004.

All the defendants had pleaded not guilty to the charges. And they have been admitted to bail on various terms and conditions.

At the resumed trial of the defendants today, the prosecutor, Mr. Sylvester Azubuike, informed the court of services of the prove of evidence on the defendants’ counsel while also pleaded with the court for a short date for trial, due to absence of the complainant who is to testify in the matter.

He told the court the nominal complainant called and informed him that she has acute malaria. He therefore urged the court for a short date.

Counsel to the BDC operators, U. G. Ezeaba and Ndubuisi Nwokpowo, while informed the court of being served with the prove of evidence also did not opposed the adjournment sought for by the prosecutor.

Consequently, Justice Oweibo, adjourned the trial of the defendants till matter till March 10, 2020.