$1.5m Fraud Case Put on Hold as Court Fails to Arraign Defendant
The planned arraignment of Ufoma Joseph Immanuel and Intermediate Investment Holdings Limited over an alleged $1.5 million fraud was stalled at the Lagos State High Court following the failure to serve court documents on the defendant.
The case, filed by the Economic and Financial Crimes Commission, borders on obtaining by false pretence and forgery.
At the hearing, EFCC counsel, Mr Emenike Mgbemele, informed the court that the matter was fixed for arraignment. However, the proceedings could not go on as the charge had not been served on the defendant.
Defence counsel, Mr Oluwaseun Awonuga (SAN), confirmed that his client had not received the necessary court processes required for arraignment.
Presiding judge, Justice Mojisola Dada, adjourned the matter until April 11 for the defendant to be formally arraigned.
Tension later erupted in the courtroom after the prosecution accused the defence of preventing EFCC officials from re-arresting the defendant immediately after the hearing.
The prosecution alleged that efforts to invite security operatives to take the defendant into custody were obstructed, leading to a heated exchange between both legal teams in the presence of lawyers and court staff.
According to the charge, the defendants allegedly received $1.5 million from Adebisi Adebutu of R28 Holdings Limited between April 2022 and October 2023. The money was said to have been obtained under the pretext of investing in a petroleum development project, with assurances of reimbursement, development capital fees and share allocation.
The EFCC further alleged that the first defendant forged a document titled “Term Sheet,” purportedly executed by Sherrif Oluwo and Olaniran Osotuyi, to facilitate the transaction.
The alleged offences contravene provisions of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, and the Criminal Laws of Lagos State, 2015.