EFCC Arraigns Lawyer for Alleged ₦1.3 Billion Forex Fraud in Uyo
The Economic and Financial Crimes Commission (EFCC) has arraigned a lawyer, Alexander Ozougwu, for allegedly defrauding four victims of ₦1.3 billion through a fraudulent forex scheme. The Uyo Zonal Command of the EFCC presented the case before a Federal High Court in Uyo on February 12.
According to EFCC spokesperson, Dele Oyewale, the defendant posed as a licensed bureau de change operator registered with the Central Bank of Nigeria (CBN) to gain the trust of his victims. After securing access to their betting accounts under the guise of helping to fund them, he allegedly diverted the funds into various betting platforms.
Charges Filed:
Mr. Ozougwu faces six charges of obtaining money by false pretenses, in violation of Section 18(2)(d) of the Money Laundering (Prevention and Prohibition) Act 2022. The charges detail specific transactions, including:
- ₦268.85 million in September 2024, transferred through a bank account registered under Starlight Attorneys.
- ₦213 million in July 2024, also through the same account.
Legal Proceedings:
The defendant pleaded not guilty to all charges. In response, the prosecution counsel, Joshua Abolarin, requested that the court remand Mr. Ozougwu at a correctional center pending trial.
Moral Lesson:
This case underscores the importance of verifying financial service providers and exercising caution before entrusting sensitive information or funds to individuals, regardless of their professional status.
