$328,974.37 Fraud: Court Adjourns Osaretin’s Trial to May 5

Justice U.P. Kekemeke of the Federal Capital Territory, FCT High Court, Apo, has adjourned the trial of a businessman, Ighodaro Austin Osaretin, who is being prosecuted by the Economic and Financial Crimes Commission, EFCC, for a $328,974.37 fraud, to May 5, 2018.

Osaretin allegedly duped innocent Nigerians in a fake business deal that happened between March and November 2015. He placed an advertisement on www.unaedi.org.ng supposedly belonging to Universal Agricultural Empowerment and Development Initiative, using same to swindle prospective investors, into parting with over $328,974.37 under the pretence that his organization specialized in marketing goods and services globally.

He was first arraigned on April 9, 2018 on a one-count charge of fraud.

The count reads: “That you Ighodaro Austin Osaretin sometime between March 13, 2015 to November 9, 2015 in Abuja within the jurisdiction of this Honourable Court, with intent to defraud, did obtain the sum of $328,974.37 from several customers across the globe through the advert you placed on www.unaedi.org.ng”.

He pleaded “not guilty” to the charge when it was read to him.

Subsequently, Justice Kekemeke fixed April 16, 2018 to hear his bail application. He was granted bail in the sum of N10 million and two sureties in like some, who must not be below the position of an assistant director in the Federal Civil Service, and who must possess landed properties.

Wilson Uwujaren

Head, Media & Publicity