DSS Arraigns Two Forex Traders In Osun For Allegedly Fleecing Clients Of N5.9m

By Jimoh Taofik, Osogbo

The Department of State Services, on Monday, arraigned two suspected fraudsters before an Osun State Magistrate Court sitting in Osogbo for allegedly defrauding two residents of the state to the tune of N5,980,000,00.

The DSS accused Abiodun Matthew, aged 24; and Alogba Yusuf, 32; of setting up and operating an unregistered and illegal forex businesses, D-Delight Binary and Forex Investment Company Limited; and Alatmax, between October and December, 2020 in Osogbo.

Through the outfits, the Head of Legal Services of DSS, B. O. Nweke, said that the duo conspired and fleeced the unsuspecting members of the public.

The prosecutor informed the court that Matthew and Olayinka, between October 2020 and April 2021, in Osogbo, obtained with fraudulent intent the sum of N4,400, 000,00 from one Atilola Adeleke and the sum of N1,580,000,00 from one Akintifonbo Tejumola under the guise of operating forex business.

The offences contravened sections 516 and 419 of the Criminal Code, Cap 34, Volume II, Laws of Osun State of Nigeria, 2002.

The defendants pleaded not guilty to the two-count-charge of conspiracy and fraud leveled against them.

The defence counsel, Bola Ige, urged the court to grant them bail, noting that the law presumed them innocent of the allegations until proven contrary.

Magistrate M. A. Olatunji granted the defendants bail in the sum of N2 million each with two sureties each in like amount.

Olatunji ruled that the sureties must reside within the court jurisdiction and that they must be, at least, level 14 civil officers with verifiable addresses.

The matter was adjourned till January 27, 2022.