Lagos court arraigns Oluwatomilola Balogun for defrauding 2 companies of N69m, $10k

Lagos court arraigns Oluwatomilola Balogun for defrauding 2 companies of N69m, $10k

A financial advisor identified as Oluwatomilola Balogun, along with two companies, Twelvest Limited and Vestract Limited, has been brought before the

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A financial advisor identified as Oluwatomilola Balogun, along with two companies, Twelvest Limited and Vestract Limited, has been brought before the State High Court in Lagos over her involvement in a N69,000,000 and $10,000 fraud case.

Oluwatomilola faced a four-count charge before Justice Ibironke Harrison, under section 314(3) of the Criminal Law, Ch. C17, Vol.3, Laws of Lagos state, 2015, for allegedly obtaining money under false pretenses.

The prosecutor, Ade Erinkitola, asserted that Oluwatomilola and her associates posed as financial advisors, promising high returns on investment to their victims.

Erinkitola also claimed that the defendants deceived four individuals, namely Omobolanle George Epebitie, Eriye Onagoruwa, Adeola Odunlami, and Modupe Ayeni, into parting with sums totaling N69 million and $10 thousand.

During the proceedings, Oluwatomilola and the co-defendants pleaded not guilty to the charges. Subsequently, the prosecutor requested the court to remand her in the custody of the Nigerian Correctional Services until the conclusion of the trial.

However, the defense counsel, Olabisi Makanjuola, argued that Oluwatomilola was already on administrative bail and should continue to enjoy this status, particularly as she is a nursing mother.

Makanjuola assured the court of his commitment to ensuring her presence for trial.

Responding to this plea, Justice Harrison granted bail to the culprit, advising the defense counsel to serve the bail application to the prosecution before the next court date.

However, the judge adjourned the matter to May 2, for the commencement of the trial and the hearing of the bail application.