EFCC Arraigns Lady Over N2bn Forex Investment Scam [Photo]

The  Economic and Financial Crimes Commission (EFCC) said it has arraigned Forex investment scammer identified as Titilayo O. Eboh and three companies before Justice  S.U Bature of the FCT High Court, Maitama Abuja.

The commission is charging the accused based on a three-count charge bordering on obtaining under false pretence, foreign exchange malpractices and money laundering to the tune of N2.245.095.000 000 (Two  Billion, Two Hundred and Forty-Five Million, Ninety-Five Thousand Naira  Only).

It was said that the money was received from various organizations as forex investment but allegedly diverted by the defendant

She was arraigned alongside her companies, Chayomi Aluminum Ltd, Chayomi Petroleum Ltd and Chayomi Multi Services Limited.

Statement of the charges partly read:

Count  one of the charge reads, “that you, TITILAYO O. EBOH and CHAYOMI  ALLUMINIUM LIMITED, sometime between February- November 2018 in Abuja-  FCT, within the Jurisdiction of this Honourable Court with intent to  defraud, did obtain monies, the total sum of N2,245,095,000 (Two  Billion, Two Hundred and Forty Five Million, Ninety Five Thousand Naira  Only) through your bank account No.5015441023 domiciled with First City  Monument Bank (FCMB) PLC from One Sought-After Int`l Synergy Limited  under the false pretense that the said sum was for investment in the  United States Dollar foreign exchange (FOREX) for profit in favour of  the said Sought-After Int`l Synergy Limited, which you knew to be false  thereby committed an offence contrary to Section 1 (1) and punishable  under Section 1(3) of the Advance Fee Fraud  and Other Fraud Related  Offence(s) Act, No.14, 2006”

Count two reads, “That you,  TITILAYO O. EBOH and CHAYOMI PETROLEUM LIMITED, sometime between  June-July, 2018 in Abuja- FCT within the Jurisdiction of this Honourable  Court with intent to defraud, did obtain monies, the total sum of  N300,000,000 (Three Hundred Million Naira Only) through your bank  account No. 1015690712 domiciled with Zenith Bank Plc from one  Sought-After Int`l Synergy Limited under the false pretense that the  said sum were for investment in the United States Dollar foreign  exchange (FOREX) for profit in favour of the said Sought-After Int`l  Synergy Limited which you knew to be false and 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, No. 14,  2006”

Meanwhile, the defendant pleaded not guilty to all the charges.

In  view of her plea, the prosecution counsel, Alilu Abubakar asked for a  date for trial to commence, while praying the court to remand the  defendant in the EFCC custody to enable close monitoring as she has a  history of changing addresses or absconding.

However the defence counsel, Garba Zekeri prayed the court to grant his client bail citing the defendant`s state of health.
Justice Bature adjourned the matter till November 6 and 7, 2023.