An Ikeja Special Offences Court has adjourned until May 5 to arraign an alleged ponzi scheme kingpin, Friday Audu.
He is accused of a $2.6 million USDT and N3.5 billion fraud.
He is to be arraigned alongside his company, Genting International Ltd on a seven-count charge bordering on retention of stolen property, forgery and possession of fraudulent documents, proferred against him by the Economic and Financial Crimes Commission, (EFCC).
When the case was called on Monday, EFCC Counsel, Bilikisu Buhari informed the court that the case was slated for the arraignment of the defendants.
Dr. Muiz Banire (SAN) appeared for the first defendant, while the second defendant, (Genting International Ltd) was, not represented.
The EFCC Counsel informed the court that the first defendant resisted service and representation on behalf of the second defendant.
The prosecution then sought the leave of the court to serve hearing notice on the last known address of the second defendant.
Justice Rahman Oshodi adjourned the case until May 5 for arraignment.
According to the charge sheet dated April 15, EFCC alleged Mr Audu and his company retained stolen property by conspiring among themselves to retain $1,262,000 USDT in the wallet address TP6UTEmch6cto72Y7Pj3Bkn84LSqjSr7PX (binance), property said to have been fraudulently obtained.
The anti-graft agency also alleged that the defendants retained $1,300,203 USDT in the wallet address TQbgiFXAf17RX8j2nkFwwzBDo22WWrdcRn (BYBIT), property allegedly frauulently obtained.
The defendants are also said to have conspired amongst themselves to dishonestly retain in Genting International Co. ltd’s account number 0225100403 domiciled in Union Bank, the sum of N3.5 billion funds fraudulently obtained.
The EFCC also alleged the defendant sometimes in 2024 knowingly forged a document titled “Ultimate Beneficial Ownership (UBO) Declaration Form” and purpoted same to have been signed by one Baffale Yakubu.
According to the prosecution, the alleged offences violate Sections 328, 365 and 411 of the Criminal Law of Lagos state, 2011 and Sections 6 and 1(3) of the Advance Fee Fraud and Other fraud related Offences Act, 2006.
