By Jude-Ken Ojinnaka
A Lagos High Court sitting in Ikeja has adjourned till April 9 for the trial of a businessman, Modestus Odinaka, and his company Richelife Africa Project Limited charged with alleged N32 million fraud
The defendant is standing trial before Justice O. A Okunuga on a three counts charge bordering on fraud, stealing, and obtaining by false pretenses. He is being prosecuted by the Economic and Financial Crimes Commission (EFCC)
The defendant was arraigned in November 2023 but he pleaded not guilty to the charge.
When the matter was called on Tuesday, the defence counsel prayed the court for a variation of the bail terms granted to the defendant. In this circumstance, the court fixed April 9 for commencement of the trial.
In the charge the prosecution alleged that the defendant committed the offence on November 18, 2020 and August 3, 2022 in Lagos.
The Anti-graft agency alleged that the defendant used his company Richelife Africa Project Limited, to obtain the sum of N6 million from one Chidinma Ogu and another N26 million from one Nnamdi Ogu, under a false presentation to invest the money in a ‘Student Against Hunger Project’ which he said will yield returns .
The project was said to be fraudulent as the defendant allegedly converted the money to his own personal use.
EFCC states that the offence contravenes the provisions of Section 1(3) of the Advanced Fee Fraud Act 2006 and Section 280 of the Criminal Law of Lagos State 2015.
Ogedi Ogu, counsel to the couple had in a letter to the defendant in 2021 demanded for the payment to the complainants, of both the Capital investment as well as 100 percent interest return on investment which he had assured the investors.
