BUSINESSMAN FACES TRIAL OVER ALLEGED N343 MILLION FRAUD SCHEME INVOLVING CHINESE NATIONALS
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A Lagos businessman, Ogochukwu Ofodume, was arraigned before a Federal High Court in Lagos on Thursday, charged with defrauding Chinese nationals of a total of N343 million. Ofodume faces seven counts of conspiracy and obtaining money by false pretenses.
Appearing before Justice Alexander Owoeye, Ofodume is accused of committing the offenses in 2023, in collaboration with three companies: B.I.G VIP Excallance Ltd, VIP Impress Hollywood Ltd, and VIP Apartments Ltd. The prosecution, led by Mr. M.A. Animashaun, claims that Ofodume engaged in fraudulent transactions involving the delivery of goods, including bales of wax cloths and timber.
According to the charges, Ofodume allegedly received 1,228 bales of wax cloths worth N202.6 million through an associate, Kelvin Igwe, with the intent to defraud the goods’ rightful owner, ZHU YAN QIN. He is also accused of accepting an additional 583 bales, valued at N96.1 million, under similar fraudulent circumstances.
Further charges allege that Ofodume obtained N45.2 million from ZHU YAN QIN by falsely claiming he would purchase a container load of timber from the Republic of Guinea for shipment to China. Instead, it is alleged that Ofodume misappropriated the funds for personal use, specifically for constructing VIP Apartments.
The alleged offenses violate multiple provisions, including section 390 of the Criminal Code Act, as well as the Advanced Fee Fraud and Other Fraud Related Offenses Act, 2006.
The case was adjourned until March 28 for the defense’s bail application, and Justice Owoeye ordered that Ofodume remain in custody pending the decision on bail.
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