The Economic and Financial Crimes Commission has arraigned a businessman, Ashley Segun Oshin, before the Lagos State High Court sitting in Ikeja over an alleged \u00a3122,000 investment fraud.\n<\/p>\n
\u00a0Oshin was arraigned on Thursday before Justice Ismail Ijelu on a one-count charge of obtaining money by false pretence, contrary to Section 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.\n<\/p>\n
\u00a0When the case was called, the EFCC prosecution counsel, M.S. Owede, told the court that the matter was scheduled for arraignment and that the prosecution was ready to proceed, subject to the court\u2019s convenience.\n<\/p>\n
\u00a0Owede informed the court that the charge was filed on June 29, 2026, and urged the judge to allow the defendant to take his plea.<\/p>\n
\u00a0The EFCC alleged that Oshin induced two individuals, Miss Oluwafemi Fajana and Mr Abiodun Adeogun, to part with \u00a3122,000 between 2009 and 2010 under the pretext of investing the money in a debenture fund operated by Oschards Limited.<\/p>\n
\u00a0According to the charge, the defendant allegedly promised the investors an annual return of 40 per cent, a representation the commission said he knew to be false.\n<\/p>\n
\u00a0Oshin pleaded not guilty when the charge was read to him.<\/p>\n
\u00a0Following his plea, Owede requested a trial date and an order remanding the defendant in a correctional centre pending the determination of the case. <\/p>\n
\u00a0The prosecutor also sought time to respond to the defendant\u2019s bail application, explaining that the EFCC detention facility was already full and had no available space.\n<\/p>\n
\u00a0However, defence counsel, Samuel Umoren, informed the court that he had filed a bail application dated November 10, 2026, which had been served on the prosecution.\n<\/p>\n
\u00a0He urged the court to hear the application and sought an early date for its determination.\n<\/p>\n
\u00a0He also requested that his client be remanded in EFCC custody.\n<\/p>\n
\u00a0The judge ordered that Oshin be remanded in a correctional centre pending further proceedings.\n<\/p>\n
\u00a0Justice Ijelu subsequently adjourned the case until November 18, 2026, for trial and hearing of the pending bail application.<\/p>\n
Source: <\/p>\n
The Economic and Financial Crimes Commission has arraigned a businessman, Ashley Segun Oshin, before the Lagos State High Court sitting in Ikeja over an alleged \u00a3122,000 investment fraud. \u00a0Oshin was… <\/p>\n","protected":false},"author":1,"featured_media":16418,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-16417","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/16417","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/comments?post=16417"}],"version-history":[{"count":0,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/16417\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media\/16418"}],"wp:attachment":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media?parent=16417"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/categories?post=16417"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/tags?post=16417"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}