Police charge BDC operator with N157 million fraud

A Bureau De Change operator named Atoyebi Bamidele, commonly known as Bam-Bam, was charged by the police on Tuesday before the Federal High Court in Lagos for allegedly defrauding traders in Alaba Market of N157 million.

Three counts of conspiracy, acquiring, and stealing have been filed against Bamidele, who conducts business as Prosocial International Limited.

By the Force Criminal Investigation Department in Alagbon-Ikoyi, Lagos, he was brought before the court on charges.

The traders’ plea to the police, sent through their attorney Henry Mejulu, resulted in the defendant’s arrest and arraignment.

The defendant collaborated to perpetrate the crime with other people who are still at large, according to S. O. Ayodele, the police prosecuting attorney, who testified in court during the defendant’s arraignment.

He claimed Bamidele committed the conduct between December 2022 and January 2023, obtaining a total of N157,206,000 through deception while pretending to assist the traders in obtaining the equivalent in US dollars.

According to Ayodele, who testified in court, the defendant obtained the funds from Mrs. Priscilla Oyiowo, a representative of the merchant, via one Obinna Ozuah.

The defendant, according to the prosecutor, allegedly stole his pocketbook and utilized the money for his own use.

The prosecution claims that the offense violated Sections 8(a) and 1(1)(c) of the Advance Fee Fraud and Other Related Offenses Act, CAP A8 Vol. 1, Laws of the Federation of Nigeria, and was punishable under Section 1(3),383 of the Criminal Code Act, Cap. C 38, and Section 390(9) of the Laws of the Federation of Nigeria, 2004.

In the meantime, the defendant denied the accusations made against him.

The prosecutor sought the court to detain the defendant to the Nigerian Correctional Service Center until the outcome of the accusations in light of the defendant’s plea of not guilty.

E. A. Alafin, the defendant’s attorney, however, informed the court that he had submitted his client’s bail application and had served notice of it to the prosecution.

He begged the judge to grant his client the most lenient bail conditions possible.

However, the prosecutor argued against the application, saying that he needed to read it first before filing a response.

In order to hear the defendant’s bail motion, Justice Akintayo Aluko postponed the case to October 5, 2023.

The defendant was also mandated to remain in the Nigerian Correctional Service’s custody until the next date, per the judge’s ruling.