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Lagos High Court Remands Suspected N7.5 Billion Ponzi Scheme Operator

In a significant development, a Federal High Court in Lagos has remanded Mr. Bamishe Ajetunmobi, a suspected operator of a Ponzi scheme, for an alleged N7.5 billion fraud. The presiding judge, Justice Chukwuejekwu Aneke, ordered Ajetunmobi’s custody to be transferred to the Nigerian Correctional Services (NCoS) pending the resolution of charges brought against him by the police. The trial is set to commence on November 29, as scheduled.

Ajetunmobi faces serious allegations related to a massive fraud amounting to N7.5 billion. The court’s decision to remand him in custody underscores the gravity of the charges and the need to ensure his presence during the legal proceedings.

Justice Aneke’s order to remand Ajetunmobi emphasizes the court’s commitment to upholding the rule of law and ensuring that those accused of financial crimes face the appropriate legal consequences. The November 29 trial date provides ample time for the prosecution and defense to prepare their cases.

The outcome of this trial will have significant implications not only for the accused but also for the broader fight against financial crimes in Nigeria. The court’s decision to remand Ajetunmobi demonstrates its commitment to holding individuals accountable for fraudulent activities and promoting transparency and integrity in the financial sector.