A Lagos State Special Offences Court sitting in Ikeja Monday remanded a suspected fraudster, Friday Audu, in the Medium Correctional facility.
The suspect was arraigned on a seven-count charge bordering on crypto currency, investment fraud and romance scam.
Audu was allegedly behind the activities of the 193 foreigners and 599 Nigerians who were arrested in December 2024, by EFCC.
The alleged offences contravened Sections 328, 365 and 411 of the Criminal Law of Lagos state, 2011 and Sections 6 and 1(3) of the Advance Fee Fraud and Other fraud related Offences Act, 2006.
Prosecution counsel, Bilikisu Buhari, argued against the application for bail by the defendant. He said in a counter affidavit that the offences is tarnishing the country’s image as a whole and diminishes government’s efforts to sustain development.
Buhari further argued that the defendant, if granted bail, would flee and would not be available to continue his trial because there is strong evidence against him.
Audu, who is accused of fraud to the tune of $2.6 million and N3.5 billion, was arraigned alongside his company, Genting International Ltd, on a seven-count charge.