A Federal High Court sitting in Lagos has ordered the remand of a Ponzi scheme operator, Bamise Ajetunmobi, who fled the country in 2021, over an alleged N7.5 billion fraud.


Justice Chukwuejekwu Aneke made the order today after Bamise was arraigned on a 12-count charge by the men of Force Criminal Investigation Department Force CID (Annex) Alagbon-Ikoyi, Lagos.


The prosecution counsel, Morufu Animashaun, a legal officer in the Force CIID, told the court that the defendant conspired with his wife, Elizabeth, who is still at large, and their company, to lure victims with a fraudulent 10 percent return on investment.


Animashaun also told the court that the defendant was arrested by the International Police (Interpol) in Cote D’Ivoire earlier this year, urging the court to remand the defendant in the custody of the Nigerian Correctional Services (NCoS) till the determination of the charges against him.



Following an oral application by the police counsel, Justice Aneke struck out the name of the defendant’s wife from the charge, so the arraignment of Bamise could proceed.


Those allegedly defrauded by the defendant include: Olawale Lawal N1.5 billion, Kate Omu N500 million, Erhi Catherine Ojoboh N2 and Abioye Idris, N3.5 billion.

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