The Economic and Financial Crimes Commission on Monday brought an Abuja couple, Osabohein Ologbose and his wife, Hope Oghelemu, before the Federal High Court in Abuja over an alleged N740m fraud.
The defendants were arraigned before Justice Ekerete Akpan alongside two firms, Onome Global Market Resources Limited and Lexicon Multi-Concept Media Limited, on a seven-count charge bordering on alleged obtaining by false pretence, misappropriation of funds and money laundering.
According to the commission, the alleged offences violate Section 18(2)(b) and are punishable under Section 18(4) of the Money Laundering (Prevention and Prohibition) Act, 2022.
Court documents indicated that between January 2023 and April 2024, Ologbose allegedly received N340m into his Kuda Microfinance Bank account from an Access Bank account said to belong to his wife, funds the prosecution claims he ought to have known were proceeds of unlawful conduct.
In another count, the anti-graft agency alleged that N24.1m from the same pool of funds was used to set up a music and photography studio at Crowther Plaza, Gudu District, Abuja, despite the defendant’s alleged knowledge of the questionable source of the money.
The EFCC also accused the couple of persuading investors to commit funds for the purported purchase and export of bitter kola and red kolanut to Hong Kong, China and Indonesia, with assurances of lucrative returns.
Investigations reportedly showed that neither the promised profits were paid nor the invested capital refunded.
The commission said the prosecution forms part of its sustained drive to tackle financial crimes and ensure accountability among individuals and corporate entities.
