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N138 million Fraud: Investment banker dragged to court

An investment banker with Alpha Morgan Capital, Lagos, Odusanya Ajibola has been dragged before a Federal High Court in Lagos for allegedly defrauding one Rotimi Edu his step uncle, of N138 million.

 

In a petition sent to the Lagos state Commissioner of Police by the law firm of Fountain Court Partners, it was alleged that Edu was a victim of fraud and obtaining by false pretences between the months of June, 2023 and August, 2023, when Ajibola Odusanya, an investment banker with Alpha Morgan Capital, Lagos represented to Mr Rotimi Edu falsely that there was property he could and would help him to buy in London.

The petition said that following this representation which later turned out be false, Mr Edu at various times from June, to August,2023 parted with sums amounting to N138,800,000 to Ajibola Odusanya who presented forged property transaction document to Mr Edu.

It said when the fraud was discovered, Ajibola Odusanya offered to refund the money and he issued further forged documents from a supposed UK realtor and a forged TSB cheque to Mr Edu.

He further informed Mr Edu that he had transferred the sum of N5,000,000.00 (Five Million Naira) into his Bank Account but he never did.

It said at a point in time, Ajibola Odusanya offered to transfer the equivalent of the sum of 97,000,00 pounds into Mr Edu’s account but he tried to do so with a fake cheque that was unpresentable and then claimed that he had some money in Nigeria and would refund the money to Mr. Edu as soon as he arrived in the country at 12, noon on the 20th of November, 2023.

The petition said it was discovered that Ajibola Odusanya never had the intention of buying any property for Mr Edu but instead used same as a ruse to fraudulently obtain the sum of N138,800,000.00 (One Hundred & Thirty-Eight Million Eight Hundred Thousand Naira) from him and had since fraudulently converted the said sums into personal use and has no intention to ever refund the money.

Consequently, the petitioner urged the Lagos state Commissioner of Police to use his good offices to investigate the matter.

The presiding Judge, Justice Chukwujekwu Aneke has adjourned till 23rd of May 2024 for trial to commence.

 

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