{"id":69677,"date":"2025-07-04T11:34:41","date_gmt":"2025-07-04T11:34:41","guid":{"rendered":"https:\/\/abujacityjournal.com\/livenews\/?p=69677"},"modified":"2025-07-04T11:34:41","modified_gmt":"2025-07-04T11:34:41","slug":"efcc-arraigns-businesswoman-for-alleged-700000-fraud-n190m-theft","status":"publish","type":"post","link":"https:\/\/abujacityjournal.com\/livenews\/2025\/07\/04\/efcc-arraigns-businesswoman-for-alleged-700000-fraud-n190m-theft\/","title":{"rendered":"EFCC Arraigns Businesswoman for Alleged $700,000 Fraud, N190m Theft"},"content":{"rendered":"

By Anifowoshe Oladipupo<\/strong><\/p>\n

The Economic and Financial Crimes Commission (EFCC), has arraigned a businesswoman, Adekemi Folorunsho, before the Lagos State Special Offences Court, Ikeja, for allegedly defrauding a client of $700,000 and stealing N190 million under the guise of operating as a bureau de change operator.<\/p>\n

Folorunsho was docked on Thursday alongside three accomplices who are currently at large.<\/p>\n

She faces a three-count charge bordering on obtaining money by false pretence, conspiracy, and theft.<\/p>\n

According to EFCC counsel, Nanbam Mutfwang, the defendant and her accomplices obtained $700,000 from one Mrs. Osolake Ayodele in 2023 by falsely claiming she could convert the funds to naira as a foreign exchange broker, a claim the commission said was knowingly false.<\/p>\n

The EFCC also alleged that in October 2021, Folorunsho dishonestly converted N190 million belonging to the same complainant for her personal use.<\/p>\n

The offences contravene Sections 1(3) and 8(a) of the Advance Fee Fraud and Other Fraud Related Offences Act, and Section 285(1) of the Criminal Law of Lagos State, 2011.<\/p>\n

Folorunsho pleaded not guilty to all charges.<\/p>\n

Her counsel, Mr. Shina Makinde, applied for bail, urging the court to consider her status as a reputable businesswoman who employs over 100 staff and had complied with EFCC\u2019s administrative bail conditions.<\/p>\n

The prosecution did not oppose the application, leaving the matter to the court’s discretion.<\/p>\n

In her ruling, Justice Olubunmi Abike-Fadipe granted bail in the sum of N50 million with two sureties in like sum.<\/p>\n

She ordered that the conditions be met within two weeks, failing which the defendant would be remanded in custody.<\/p>\n

The case was adjourned to October 9, 2025, for trial.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Anifowoshe Oladipupo The Economic and Financial Crimes Commission (EFCC), has arraigned a businesswoman, Adekemi Folorunsho, before the Lagos State Special Offences Court, Ikeja, for allegedly defrauding a client of $700,000 and stealing N190 million under the guise of operating as a bureau de change operator. Folorunsho was docked on Thursday alongside three accomplices who […]<\/p>\n","protected":false},"author":32,"featured_media":69678,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[181,172],"tags":[59],"class_list":["post-69677","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crime","category-news","tag-featured"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/69677","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=69677"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/69677\/revisions"}],"predecessor-version":[{"id":69679,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/69677\/revisions\/69679"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/69678"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=69677"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=69677"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=69677"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}