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Alleged Lagos stock scammer in court

04 March 2015, 22:02

Lagos - The Economic and Financial Crimes Commission (EFCC) has arraigned a man on a multiple-count charge over allegations of involvement in a stocks and shares scam to the tune of N52.75 million

Adebola Asiwaju Oyewole has appeared before Justice Lateef Lawal Akapo of the Lagos State High Court sitting in Ikeja, on a 21-count charge bordering on conspiracy, obtaining money by false pretence, forgery, impersonation and stealing.

Operatives of the EFCC arrested Oyewole, following a complaint by Marina Securities Stock Broking Services, alleging that, the accused person impersonated one of its clients, Oladosu Olarere Sunday.

Also read: EFCC ordered to release Fani-Kayode's passport

It is alleged he cloned his shares-bearing account and Central System Clearing System numbers.  

With the access, he allegedly executed transactions and disposed shares to the tune of N52.75 million and converted  the proceeds to his personal use.

The accused person pleaded not guilty to all the charges.

Justice Akapo subsequently adjourned the case to March 23 for hearing of bail application and ordered that the accused person be remanded in Kirikiri Prison.

- CAJ News

Tags efcc lagos

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