The Economic and
Financial Crimes Commission, EFCC, Uyo Zonal Directorate, on Wednesday,
February 12, 2025, arraigned a legal practitioner Barrister Alexander Uchenna
Ozougwu before Justice Sergius Onah of the Federal High Court sitting in Uyo,
Akwa Ibom State, for allegedly defrauding his victims to the tune of N1, 323,
850. 000. 00 (One Billion, Three Hundred and Twenty Three Million, Eight
Hundred and Fifty Thousand Naira) through a bogus foreign exchange
investment scheme.
He was arraigned
on six –count charges bordering on obtaining money by false pretence in
contravention of provisions of Section 18(2)(d) of the Money laundering
(Prevention and Prohibition) Act 2022.
Count one of the
charges against him reads;
"That you
Alexander Uchenna Ozogwu sometime in September 2024 in Nigeria, within the
jurisdiction of this Honorable Court, did take possession of the total sum of
Two Hundred and Sixty Eight Million, Eight Hundred and Fifty Thousand Naira
Only (-N=268,850,000) through a bank account with account name- STARLIGHT
ATTORNEYS which you knew formed proceeds of an unlawful act to wit: obtaining
money by false pretence and thereby committed an offence contrary to Section
18(2)(d) of the Money laundering (Prevention and Prohibition) Act 2022 and
punishable under Section 18(3) of the same Act'.
Count two reads, "That you Alexander Uchenna 0zougwu sometime in July,
2024 in Nigeria, within the jurisdiction of this Honorable Court, did take
possession of the total sum of Two Hundred and Thirteen Million Naira Only
(=N=213,000,000) through a bank account with account name- STARLIGHT ATTORNEYS
which you knew formed proceeds of an unlawful act to wit: obtaining money by
false pretence and thereby committed an offence contrary to Section 18(2)(d) of
the money laundering (Prevention and Prohibition) Act 2022 and punishable under
Section 18(3) of the same Act'.
The defendant
pleaded not guilty to the charges when they were read to him , and in view of
his plea, prosecution counsel, Joshua O. Abolarin prayed the court to remand
the defendant at a Correctional Centre and fix a date for trial, but the
defence counsel C. M.Onuchukwu quickly informed the court of
a bail application which he said was filed on self- recognizance for the
defendant and also assured the court that he shall make himself available for
trial.
After listening to
both counsels, Justice Onah granted bail in the sum of N500, 000, 000.00(Five
Hundred Million Naira only) with two sureties in like sum. The sureties must be
civil servants of grade level 12 and above, and must have landed properties within
the jurisdiction of the court. The court also ordered the defendant to deposit
his international passport and two recent passport photographs with the court.
Ozougwu was
docked on the claims of four petitioners that alleged that he presented himself
as a registered bureau de change operator with the Central Bank of Nigeria
through which he earned their trust and collected the passwords to their
betting accounts and promising that he was going to help them fund their
accounts, but ended up diverting their funds.
Investigation into the allegations revealed that the defendant was operating a
ponzi scheme under the guise of exchanging dollars for his victims and channelling
most of the funds to various betting platforms. A total of N1, 323,
850. 000. 00 was discovered to have been diverted from the accounts of the
petitioners.
The judge adjourned the matter to March 31, 2025 for trial.
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