Wale Igbintade
Men of Force Criminal Investigation Department (FCID) Annex, Alagbon-Ikoyi, Lagos, yesterday arraigned a 22-year-old Joshua Adeyinka Kayode for allegedly defrauding 170 unsuspecting investors to the tune of N10.8 billion under a fraudulent investment.
He was arraigned on 170 counts of conspiracy and obtaining money by false pretence alongside his company, Quintessential Investment Company Limited.
The Prosecutor, Mr. Williams Tijjani, informed the court that the defendant and others now at large committed the offences between July 2020 and March 2021.
Tijani told the court that the defendant defrauded his victims under the pretence of false multiple returns on investment.
He told the court that the offences are contrary to and punishable under section 8(a) and 1(1) (a) (c) of the Advance Fee Fraud and other Fraud Related Offences Act 2006.
However, the defendant denied the allegations and pleaded not guilty to all the counts charge.
Upon his plea of not guilty, the prosecutor, urged the court to remand him in the custody of Nigerian Correctional Services (NCoS), pending when his bail application would be heard and determined.
Counsel to the defendant, Mr. Emeka Okpoko (SAN), did not oppose to the prosecutor’s remand request but asked for a short date to enable him to file a bail application.
After listening to the submission of parties, Justice Tijjani Ringim adjourned the matter till July 11 for hearing of the defendant’s bail application.
Ringim also ordered that the defendant be remanded in the custody of the NCoS till the hearing and determination of his bail application.
Some of the counts read: “That you Joshua Adeyinka Kayode ‘M’, Quintessential Investment Company Limited and others now large between July 2020 — March 2021 at Lagos, within the jurisdiction of this honourable court, did conspire among yourselves to commit felony to wit: Obtaining Money by False Pretence and thereby committed an offence punishable under section 8(a) of the Advance Fee Fraud and other Fraud Related Offences Act 2006.
“That you Joshua Adeyinka Kayode ‘M’, Quintessential Investment Company Limited and others now at large between July, 2020-March 2021 at Lagos, within the jurisdiction of this honourable court did with intent to defraud, fraudulently obtained the sum of One Billion, Eight Hundred Million Naira (N1, 800, 000,000.00) from one Oladapo Abiola under the pretence of investing same a representation you knew to be false and thereby committed an offence contrary to section 1(1) (a) (c) of the Advance Fee Fraud and other Fraud Related Offences Act 2006.
“That you Joshua Adeyinka Kayode ‘M’, Quintessential Investment Company Limited and others now large between July, 2020-March 2021 at Lagos, within the jurisdiction of this honourable court, did with intent to defraud, fraudulently obtained the sum of Seventy Million Naira (N70, 000, 000. 00) from one Akande Solomon Odafe ‘m’ under the pretence of investing same a representation you knew to be false and thereby committed an offence contrary to section 1(1) (a) (c) of the Advance Fee Fraud and other Fraud Related Offences Act 2006.
“That you Joshua Adeyinka Kayode ‘M’, Quintessential Investment Company Limited and others now large between July 2020—March 2021 at Lagos, within the jurisdiction of this Honourable Court did with intent to defraud, fraudulently obtained the sum of Four Hundred and Ninety-One Million Naira (N491,000,000.00) from one Olarinde Tolulope ‘f’ under the pretence of investing same, a representation you knew to be false and thereby committed an offence contrary to section I(1) (a) (c) of the Advance Fee Fraud and other Fraud Related Offences Act 2006.
“That you Joshua Adeyinka Kayode ‘M’, Quintessential Investment Company Limited and others now large between July 2020—March 2021 at Lagos, within the jurisdiction of this honourable court. did with intent to defraud, fraudulently obtained the sum of Eleven Million Naira (N11,000,000.00) from one Uchechukwu gbunonu, ‘m’ under the pretence of investing same a representation you knew to be false and thereby committed an offence contrary to section 1(1) (a) (c) of the Advance Fee Fraud and other Fraud Related Offences Act 2006.”
