The Economic and Financial Crimes Commission (EFCC) has arraigned Adepoju Abiodun, promoter of Bigibet, alongside his company, Nobelsteed Nigerian Limited, over an alleged N855 million investment fraud.
The defendants were brought before trial judge O.A. Okunuga of the Lagos State High Court in Ikeja on Tuesday.
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According to a statement posted by EFCC on its official Facebook page, Mr Abiodun is facing 10 counts of stealing and obtaining money under false pretences.
The agency accused Mr Abiodun allegedly defrauded investors under the guise of raising capital for Nobelsteed’s equity in a proposed lottery and gaming business.
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The statement explained that the case followed a 2021 petition in which the complainant alleged that Mr Abiodun introduced him to Nobelsteed Nigeria Limited and convinced him to invest in its equity capital.
He claimed to have long-standing experience in the industry and urged the petitioner to invite others to participate.
Relying on Mr Abiodun’s claims, the petitioner and several other individuals reportedly paid a total of N855 million into a bank account controlled by the defendant.
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However, the EFCC alleged that the defendant failed to fulfill his promises or refund the investors, prompting the fraud charges.
EFCC said Mr Abiodun and his company pleaded not guilty to the charges.
Following their plea, prosecuting lawyer A.M. Dambuwa requested a trial date and urged the court to remand the defendant in a correctional facility pending the commencement of trial.
But the defence lawyer, Adeyinka Abdulsalam, informed the court of a bail application already served on the prosecution.
Ruling
Mr Okunuga ordered that the defendant be remanded at the Ikoyi Correctional Centre.
He adjourned the case until 9 July, for hearing on the bail application, and to 17 September, for the commencement of trial.
READ ALSO: EFCC, Yahaya Bello disagree on request for UK medical trip, court fixes date for ruling
The arraignment adds to a string of recent EFCC actions targeting alleged fraudulent investment schemes.
On Monday, the Federal High Court in Abuja ordered the remand of two operators of the cryptocurrency platform, Crypto Bridge Exchange (CBEX), Awerosuo Otorudo and Chukwuebuka Ehirim, over a separate alleged investment fraud.
The judge, Mohammed Umar remanded the duo at the Kuje Correctional Centre pending a ruling on their bail application scheduled for 18 July.
The EFCC had arraigned them on three amended counts of unauthorised financial operations and unlicensed investment activities.
The Commission’s lawyer, Fadila Yusuf, sought and obtained the court’s permission to withdraw the earlier charges and substitute them with an amended charge sheet filed on 7 July.
The defendants pleaded not guilty.
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