One Ayodele Toyosi is in the throes of prosecution for allegedly duping unsuspecting investors of N600m and $50,000.
Toyosi was on Monday brought before the court by the Economic and Financial Crimes Commission, EFCC, on eleven charges bordering on obtaining by false pretence and stealing to the tune of N600, 150, 000 million and $50,000 USD.
The defendant was arraigned alongside his companies, Reaprite Global Limited and Agrorite Limited, before Justice M. A. Lawal.
The court heard from the EFCC that under the guise of an interest-yielding investment in agricultural export, some persons lost monies to his trick.
“That you, Ayodele Toyosi, Reaprite Global Limited and Agrorite Limited, sometime in June 2023 in Lagos, within the jurisdiction of this Honourable Court, dishonestly converted to your use the aggregate sum of N200,000,000.00 belonging to one K. C. Akoson Investment Limited and Kenneth C. Maduakor by dishonestly representing to them that you will help them transfer the said money to their importers in China whereas you expended the money for your personal use and committed an offence contrary to Sections 278 (1) (b) (f) of the Criminal Law of Lagos State 2011,” one of the counts read.
However, in his defence, the defendant pleaded “not guilty” to the offences.
The proceedings came to an with the judge adjourning the matter to August 21, 2024, for the hearing of his bail application.
Justice Lawal also ordered the remand of the defendant in Ikoyi Correctional facility.
