Alleged N437m fraud: Three BDC operators for trial

THE Federal High Court sitting in Lagos on Monday fixed March 10 for the trial of three Bureau De Change (BDC) operators, who allegedly defrauded a firm of N437million.

The defendants are: Jimmy Ibrahim, Obianuju Tessy Umejesi and Uche Madubuko.

The trio, who operate under the names of Regis Bureau De Change, Jayjibs Ventures, Johim Ventures and Jajibs Bureau De Change are facing a five-count charge of conspiracy, fraud and issuance of dud cheques.

They were arraigned by the Police Special Fraud Unit (PSFU), Ikoyi, Lagos, on August 22, 2019 before Justice Nicholas Oweibo,

The PSFU, in a charge marked FHC/L/292c/19, alleged that the defendants committed the offences while operating under the names of Regis Bureau De Change, Jayjibs Ventures, Johim Ventures and Jajibs Bureau-De-Change.

It said the trio, sometime in January 2019, fraudulently obtained N437million from a firm, with a false promise to supply $1.2 million, which is the United States dollar equivalent.

One of the operators, Jimmy Ibrahim, was said to have in April, May and June last year, issued three United Bank for Africa (UBA) cheques, numbered: 77046252; 77046253 and 77046254 from account number 1015196430i, with the total value of N73 million, as part payment of the sum, but they were dishonoured for insufficient funds.

The offences, according to Agwu, contravened sections 8(a), 1(1)(a) of the Advance Fee Fraud and other related offences Act of 2006 and Section 1(a)(i) of the Dishonoured Cheques (offences) Act 2004.

At the resumed trial of the defendants yesterday, prosecuting counsel Mr. Sylvester Azubuike prayed for a short date for trial, due to the absence of the complainant who was scheduled to testify as a witness.

Defence counsel Mr. U. G. Ezeaba and Ndubuisi Nwokpowo did not oppose the prosecutor’s prayer.

Upholding his application, Justice Oweibo adjourned till March 10.