Thursday, December 21, 2023

Trial of Lagos couple arrested for N2.7bn fraud begins January 19th December 2023 couple The couple By Moruf Akanbi Kindly share this story: Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos, has fixed January 10, 2024 as commencement of trial of a couple, Oriyomi Idowu and Ruth Idowu, who were arraigned by the Lagos Zonal Command of the Economic and Financial Crimes Commission on November 28, 2023. According to a statement on the official X handle of the EFCC on Tuesday, the couple were arraigned on 20 counts bordering on obtaining money by false pretence, money laundering, stealing, retention of stolen property, and forgery to the tune of N2.7bn. They were arraigned alongside Food Commodity Processing Enterprise, Bonway Food Processing Company Limited, Samee Idowu Company Limited and Farmex Integrated Companies Limited, which all belong to Ruth Idowu. One of the counts read, “Ruth Sameeha Idowu, aka Loiry Ventures, Oriyomi Kabeer Idowu, aka Yocli Ventures, Food Commodity Processing Enterprise, Bonway Food Processing Company Limited, Samee Idowu Company Limited, Farmex Integrated Companies Limited, sometime in 2023 in Lagos, within the jurisdiction of this court, converted the sum of N10m to purchase a GLK Benz, purchase sum derived from converting the sum of N500m belonging to Creditpro Business Support Services with the aim of disguising the illegal origin of the funds.” The statement further read, “The defendants pleaded ‘not guilty’ to the charges when they were read to them, thereby prompting the court to adjourn till Friday, December 15, 2023, for hearing of their bail applications. “At Friday’s proceedings, James Alara, counsel for Ruth, who is the first defendant, informed the court that he was withdrawing an earlier motion for the bail of his client, and replacing it with a new one ‘due to the need to include the medical reports on the health status of the first defendant’. “Counsel for the EFCC, Bilikisu Buhari, however, responded that the prosecution had earlier replied to the application being withdrawn and that it only received the new application on December 11, 2023. “She explained further that the prosecution needed to authenticate the said medical reports attached to the new bail application. Alara, thereafter, prayed the court for a short adjournment in order for the court to hear the new bail application of his client, ‘because of the health of the first defendant’. “On his part, Babatunde Ogala, SAN, counsel for Oriyomi, the second defendant, moved the bail application for his client.” Ruling on the bail application of the second defendant, Justice Dada granted bail in the sum of N250 million, with two sureties in like sum. Justice Dada also adjourned the bail hearing of the first defendant till December 20, 2023, and adjourned trial till January 10 and February 2, 2024. Kindly share this story: All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH. Contact: theeditor@punchng.com Follow Punch on Whatsapp BREAKING NEWS: Nigerians can now earn Dollars by flipping domain names, buy as low as $12 and sell for $1000-$5000. 100% practical guide/training available. Click here to start earning Dollars Win up to NGN50,000 when you register on BetBaba. Click here Get a chance to win $50 and Enjoy unbeatable 150% WELCOME BONUS when you register on BetBaba. Click here. Paid Content Most Android Users Didn't Know How To Block Ads (Do It Now!) Most Android Users Didn't Know How To Block Ads (Do It Now!) Blocking ads is a quick way to speed up browsing, lower data usage and save battery on your Android! Sponsored | expertsonsecurity.com Here Are The Benefits Of Smart Beds. See Their Price Range. Here Are The Benefits Of Smart Beds. See Their Price Range. Sponsored | Smart Beds In Mexico | Search Ads Breast Reduction Cost in Lagos Might Surprise You Breast Reduction Cost in Lagos Might Surprise You Sponsored | Breast Reduction | Search Ads [Pics] Always Put a Plastic Bottle on Your Tires when Parked, Here's Why [Pics] Always Put a Plastic Bottle on Your Tires when Parked, Here's Why Sponsored | Journalistate Why Didn't Anybody Tell Me Androids Can Block Ads? Why Didn't Anybody Tell Me Androids Can Block Ads? Blocking ads is a quick way to speed up browsing, lower data usage and save battery on your Android! Sponsored | expertsonsecurity.com [Pics] 12 Foods You Can Eat a Lot of Without Gaining Weight [Pics] 12 Foods You Can Eat a Lot of Without Gaining Weight Sponsored | Journalistate Marketing Automation Tools Employees Might Get Paid More Than The Average Salaries In 2023! Marketing Automation Tools Employees Might Get Paid More Than The Average Salaries In 2023! Sponsored | Marketing Automation | Search Ads Last Week Highlights 15/12 FRI What to know about late Anambra ex-governor, EzeifeWhat to know about late Anambra ex-governor, Ezeife My marriage...With Nosa RexMy marriage...With Nosa Rex Mohbad: Iyabo Ojo's daughter knocks Naira Marley over threat to sue mumMohbad: Iyabo Ojo's daughter knocks Naira Marley over threat to sue mum 21/12 THU US judge frees inmate after 48 years in prisonUS judge frees inmate after 48 years in prison Tinubu threatened Fubara, imposed resolution on him, says ex-Rivers commissionerTinubu threatened Fubara, imposed resolution on him, says ex-Rivers commissioner VIDEO: Police dismiss two officers for seeking bribe from Dutch touristVIDEO: Police dismiss two officers for seeking bribe from Dutch tourist 20/12 WED Mob beats man to death in OgunMob beats man to death in Ogun Rivers police kill wanted kidnapper, rescue four victimsRivers police kill wanted kidnapper, rescue four victims Friends mourn as man dies three days to his weddingFriends mourn as man dies three days to his wedding 19/12 TUE Same-sex marriage: Nigerian priest defends Pope FrancisSame-sex marriage: Nigerian priest defends Pope Francis Kidnappers demand N5m from FCT victim’s relativesKidnappers demand N5m from FCT victim’s relatives My decision to resign not easy, Lalong tells TinubuMy decision to resign not easy, Lalong tells Tinubu 17/12 SUN Convicted drug lord loses mansion, other property to FGConvicted drug lord loses mansion, other property to FG Mr. Ibu's two legs not amputated, family debunks rumoursMr. Ibu's two legs not amputated, family debunks rumours Don’t pull the ladder you used in climbing, Wike warns politiciansDon’t pull the ladder you used in climbing, Wike warns politicians 16/12 SAT Dad’s return to Nigeria homeless after 30 years in UK, US sad – SonDad’s return to Nigeria homeless after 30 years in UK, US sad – Son UK police relaunch appeal on Asake concert deathsUK police relaunch appeal on Asake concert deaths Ex-Babcock VC loses wifeEx-Babcock VC loses wife 15/12 FRI What to know about late Anambra ex-governor, EzeifeWhat to know about late Anambra ex-governor, Ezeife My marriage...With Nosa RexMy marriage...With Nosa Rex Mohbad: Iyabo Ojo's daughter knocks Naira Marley over threat to sue mumMohbad: Iyabo Ojo's daughter knocks Naira Marley over threat to sue mum 21/12 THU US judge frees inmate after 48 years in prisonUS judge frees inmate after 48 years in prison Tinubu threatened Fubara, imposed resolution on him, says ex-Rivers commissionerTinubu threatened Fubara, imposed resolution on him, says ex-Rivers commissioner VIDEO: Police dismiss two officers for seeking bribe from Dutch touristVIDEO: Police dismiss two officers for seeking bribe from Dutch tourist [Pics] 50 Photos of Princess Diana You’ve Never Seen Before [Pics] 50 Photos of Princess Diana You’ve Never Seen Before Sponsored | Journalistate Top News Crude oil VP, govs raise panels on crude oil theft, economy February 19, 2022 Court $11bn judgment: P&ID loses bid to appeal Nigeria’s victory Siminialayi-Fubara Tinubu threatened Fubara to sign resolution, ex-commissioner alleges Nigerian refinery P’Harcourt refinery to process 60,000 barrels daily after repairs punch footer logo News Sports Metro Plus Politics Featured Latest News Business Business & Economy Opinion Entertainment Betting Auto Famous Auto Punch Barka Da Sallah Barrier Breakers Breaking News Brexit Columns Corona Anti-corruption Biafra Boko Haram Case Review Court News Court Trivia Campus Champion Celebrity City round Interview Panorama Opinion Special Features Spice Technology Famous Parent Education Cartoon Columns Diaspora Advertise Subscribe Search Subscribe punchng.com © 1971- 2023 Punch Nigeria Limited About us Advertise

Trial of Lagos couple arrested for N2.7bn fraud begins January

19th December 2023

By Moruf Akanbi

Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos, has fixed January 10, 2024 as commencement of trial of a couple, Oriyomi Idowu and Ruth Idowu, who were arraigned by the Lagos Zonal Command of the Economic and Financial Crimes Commission on November 28, 2023.

According to a statement on the official X handle of the EFCC on Tuesday, the couple were arraigned on 20 counts bordering on obtaining money by false pretence, money laundering, stealing, retention of stolen property, and forgery to the tune of N2.7bn.

They were arraigned alongside Food Commodity Processing Enterprise, Bonway Food Processing Company Limited, Samee Idowu Company Limited and Farmex Integrated Companies Limited, which all belong to Ruth Idowu.

One of the counts read, “Ruth Sameeha Idowu, aka Loiry Ventures, Oriyomi Kabeer Idowu, aka Yocli Ventures, Food Commodity Processing Enterprise, Bonway Food Processing Company Limited, Samee Idowu Company Limited, Farmex Integrated Companies Limited, sometime in 2023 in Lagos, within the jurisdiction of this court, converted the sum of N10m to purchase a GLK Benz, purchase sum derived from converting the sum of N500m belonging to Creditpro Business Support Services with the aim of disguising the illegal origin of the funds.”

The statement further read, “The defendants pleaded ‘not guilty’ to the charges when they were read to them, thereby prompting the court to adjourn till Friday, December 15, 2023, for hearing of their bail applications.

“At Friday’s proceedings, James Alara, counsel for Ruth, who is the first defendant, informed the court that he was withdrawing an earlier motion for the bail of his client, and replacing it with a new one ‘due to the need to include the medical reports on the health status of the first defendant’.

“Counsel for the EFCC, Bilikisu Buhari, however, responded that the prosecution had earlier replied to the application being withdrawn and that it only received the new application on December 11, 2023.

“She explained further that the prosecution needed to authenticate the said medical reports attached to the new bail application.

Alara, thereafter, prayed the court for a short adjournment in order for the court to hear the new bail application of his client, ‘because of the health of the first defendant’.

“On his part, Babatunde Ogala, SAN, counsel for Oriyomi, the second defendant, moved the bail application for his client.”

Ruling on the bail application of the second defendant, Justice Dada granted bail in the sum of N250 million, with two sureties in like sum.

Justice Dada also adjourned the bail hearing of the first defendant till December 20, 2023, and adjourned trial till January 10 and February 2, 2024.

All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.

Contact: theeditor@punchng.com