Fraud Watch
Lagos Investment Scam: EFCC Arraigns Man for Alleged N600m, $50,000 Fraud
INVESTMENT FRAUD: Court Remands Ayodele Toyosi in Ikoyi Correctional Facility
Justice A.M. Lawal of the Lagos State High Court, Ikeja, has remanded Ayodele Toyosi, the CEO of Reaprite Global Limited and Agrorite Limited, in the Ikoyi Correctional facility pending the hearing of his bail application.
Toyosi is facing an 11-count charge of obtaining by false pretence and stealing to the tune of N600 million and $50,000, brought against him by the Economic and Financial Crimes Commission (EFCC).
The EFCC alleges that Toyosi defrauded several individuals by promising them an interest-yielding investment in agricultural export, but instead used their funds for personal gain.
The case has been adjourned until August 21, 2024, for the hearing of Toyosi’s bail application. If found guilty, Toyosi faces a lengthy prison sentence and restitution to the victims of his alleged fraud.
The EFCC’s prosecution of Toyosi is part of its efforts to combat investment fraud and protect Nigerians from falling victim to such scams.
- News Watch6 days ago
Remi Tinubu Initiates N1.8bn Grant to Boost Women’s Businesses, Benefiting 37,000 Nationwide
- Police News2 weeks ago
Nigeria Police Force: A List of 36 State Commissioners
- News Watch6 days ago
Aviation Sector Braces for Strike as Workers Reject 50% Revenue Cut
- News Watch3 days ago
NYSC Announces August 19 Opening of CBO Portal for Cybercafe Operators
- News Watch2 days ago
Tensions As Two Young Women Killed, Two Injured in Car Crash After Birthday Party [Pics]
- Fraud Watch1 week ago
EFCC Laments As P-Square’s Peter Refuse Reporting Twin Brother Paul Over Alleged Fraud In Family
- Fraud Watch6 days ago
Anti-graft Agency, EFCC declares man wanted over alleged $400,000 fraud
- News Watch1 week ago
Tinubu’s Green Initiative: Nigeria to Adopt Compressed Natural Gas for Commercial Vehicles [Photos]