Three Bureau-De-Change operators, Jimmy Ibrahim, Obianuju Tessy Umejesi and Uche Madubuko, who were alleged to have defrauded a firm of N437 million were yesterday remanded in prison by the Federal High Court, Lagos.
The court presided over Justice Nicholas Oweibo made the remand order after admitting each of the BDC operators to bail in the sum of N20 million with to two sureties in like sum.
Justice Oweibo also ordered that one of the sureties must be a landed property owner within the court’s jurisdiction, while the second surety must be a Grade Level 12 officer with the Lagos State or Federal Government establishment. He added that all the bail terms must be verified by the prosecuting agency.
The judge, however, ordered that they should be remanded in prison custody until the fulfillment of the bail terms. The trial of the three defendants has been fixed for October 3.
The three BDC operators were first arraigned before the court on August 22, on charges bordering on conspiracy, obtaining under false pretence and fraud by the Police Special Fraud Unit (PSFU) Ikoyi,
A charge marked FHC/L/292c/19, alleged that the three BDC operators, who operates under the names of Regis Bureau De Change, Jayjibs Ventures, Johim Ventures and Jajibs Bureau-De-Change, had sometime in January 2019, fraudulently obtained the sum of N437 million from a company with false pretence of giving them $1.2 million USD equivalent.
PSFU also alleged that one of the BDC Operators, Jimmy Ibrahim, had in April, May and June this year, issued three United Bank for Africa (UBA) cheques numbers: 77046252; 77046253 and 77046254, from account number 1015196430, with the total value of N73 million, which were dishonoured for insufficient funds.
The charges, according to PSFU prosecutor, Mr. Chukwu Agwu, are contrary to and punishable under 8(a), 1(1)(a) of the Advance Fee Fraud and other related offences Act. No. 14, of 2006 and Section 1(a)(i) of the Dishonoured Cheques (offences) Act 2004.