N15bn Ponzi Scheme Fraud: Bamise Ajetunmobi Opts For Out Of Court Settlement

Justice Chukwujekwu Aneke of a Lagos Federal High Court, has been informed that an alleged Ponzi Scheme Operator, Bamise Samson Ajetunmobi, who is facing trial on alleged N15 billion fraud, has written a letter to the Attorney-General of the Federation (AGF), for an out of court settlement. Ajetunmobi alongside his company, Imagine Global Solution Limited, are being tried before before the court on amended 35 counts charge of conspiracy, and obtaining the sum of N15 billion, by the Office of the Attorney-General of the Federation (AGF), on August 12, 2023.

Prior to his arraignment, the Force Criminal Investigation Department (ForceCID) Annex Alagbon-Ikoyi, Lagos, through one of its legal officers, Barrister Morufu Animashaun, had obtained a remand warrant against the defendant, for jumping an administrative bail granted him by the police.

However, before his arraignment by the police, his case file was taken over by the AGF’s office, and he was arraigned before the court on amended 35 counts charge of conspiracy, and obtaining the sum of N15 billion, by the Office of the Attorney-General of the Federation (AGF), on August 12, 2023.

The offences he had denied and pleaded not guilty to all the counts of the charge.
Consequently, Justice Aneke, while ruling on his bail application held “that the prosecutor had made a credible submission that the defendant is a ‘flight risk’, as he was arrested by the interpol at Ivory Coast, but bail is his constitutional rights.”

The judge consequently ordered the defendant to deposit the sum of N5 billion to the court’s DCR’s and also to deposit his international traveling passport. He has since been in the custody of the Nigerian Correctional Services (NCoS) due to his inability to meet the N5 billion bail sum and other terms granted him by the court.

At the resumed trial of the defendant on March 14, his lawyer, Dr. B. U. Ukpenna, informed the court that he had written a letter to the office of the Attorney-General of the Federation (AGF) to settle the matter out of court.

Responding, the prosecutor, Mrs. Kehinde Bode-Ayeni, after receiving a copy of the letter, asked the court for a short date, to enable the prosecution to get the approval of the AGF
By the consent of the parties, the matter was adjourned to June 26, for report of settlement.The prosecutor, Mrs. Bode-Ayeni, an Assistant Chief State Counsel, while arraigning the defendant, told the court that the defendant committed the alleged offences between February 2018 to December 2022, at his office complex located at plot 29a, Adebisi Ogunniyi Crescent, Lekki Phase 1, Lagos.

Among those allegedly defrauded by the defendant and the amounts he defrauded them according to the prosecutor were: Abioye Idiris, N3. 5 billion; Chikezie Nowokocha (April Breakthrough Ventures) N1. 760,740 billion; Edith Agu and her three friends, N236,500 million; and Mr. Peter Okonye and his wife, Mrs. Thelma Okonye, N1. 2 billion, and 31 others.

She told the court that the alleged offences contravened sections 8(a) and 1(1)(a) of the advance fee fraud and other fraud related offences Act, 2006 and punishable under Section 8 and 8 read in conjunction with section 1(3) of the same Act.

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