On Tuesday, October 12, the Economic and Financial Crimes Commission, EFCC, Ibadan Zonal Command, presented one Toluwalade John Olateru Olagbegi before Justice Uche Agomoh of the Federal High Court in Ibadan on one count charge of acquiring money by false pretense to the tune of 35 million naira (N35,500,000:00).


According to a statement made by the Commission’s Head of Media & Publicity, Wilson Uwujaren, the Owo Prince of Ondo State, who dwells in Bodija, purportedly collected the money from the complainant under the guise of forex trading.

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The charge reads

”That you, Toluwalade John Olateru-Olagbegi on or about 4th of March, 2021, at Ibadan within the Ibadan Judicial Division of this Honourable Court with intent to defraud, obtained the sum of Thirty-Five Million and Five Hundred Thousand Naira (N35,500,000:00) only from Julius Olorunsogo Alase (a Nigeria Businessman) on behalf of Lusan Royal Trading by false pretending it was part payment of the cost of an inflow of One Million United States of America Dollars (USD $1,000,000:00)only you claimed to have secured for him; which representations you knew to be false and you thereby committed an offence contrary to section 1(1)(a) and punishable under section 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act 2006”.

When the charge was read to him, the defendant pleaded “not guilty.”

Following that, Justice Agomoh directed that the defendant be remanded in the Nigerian Correctional Centre, Agodi, and that the matter be adjourned until October 25, 2021, for the hearing of the bail application, and November 15, 2021, for the start of the trial.

Source; NgGossips.com