The Economic and Financial Crimes Commission (EFCC) has dragged a businessman, Ashley Segun Oshin, before a Lagos State High Court over an alleged £122,000 investment fraud.
Ashley Segun Oshin was arraigned before Justice Ismail O. Ijelu of the Lagos State High Court, Ikeja, on a one-count charge of obtaining money by false pretence.
The EFCC accused him of allegedly collecting £122,000 from two investors, Miss Oluwafemi Fajana and Mr Abiodun Adeogun, between 2009 and 2010, under the guise of investing the money in a debenture fund operated by Oschards Limited.
According to the anti-graft agency, Oshin allegedly promised the investors a 40 per cent annual return on their investment, a representation the commission claimed he knew was false.
The charge was filed under Section 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.
However, the businessman pleaded not guilty when the charge was read to him.
Following his plea, EFCC prosecution counsel, M.S. Owede, asked the court to remand the defendant in a correctional centre pending trial.
Owede also sought time to respond to the defence’s bail application, explaining that the commission’s detention facility was already full and had no available space.
But defence counsel, Samuel N. Umoren, told the court that he had filed a bail application dated November 10, 2026, which had been served on the prosecution.
He urged the judge to hear the application and grant an early date, while also requesting that his client be kept in EFCC custody.
Justice Ijelu subsequently adjourned the matter to November 18, 2026, for trial and hearing of the bail application.
The businessman was ordered to be remanded in a correctional centre pending further proceedings.
