Man in court over alleged N27m Forex fraud in Ibadan

Felix Adeyemi, 65, was on Friday docked in an Ibadan Magistrates’ Court, over alleged N27. 2 million Forex fraud.

The defendant whose address has not been released, was charged with stealing and receival of money under false pretence.

Insp Olufemi Omilana who’s the Prosecution Counsel, informed the court that the defendant allegedly carried out the offence on May 10 at the Oluyole area, Ibadan, the capital of Oyo State.

Omilana revealed that Adeyemi received the money from Coleman Technical Industries Ltd, which was represented by one Sanusi Ilori.

He also said that the defendant got the money under false pretence of making sale of Forex to Ilori.

The prosecutor also added that the offence was in contravention of the provisions of sections 419 and 390(9) of the Criminal laws of Oyo State, 2000.

The defendant has pleaded not guilty to the charge.

Mrs M. I Giwa-Babalola, who’s the Magistrate, granted the defendant a bail in the sum of N5 million and two sureties in like sum.

The case has been adjourned until Nov. 29 for hearing.