Men of Force Criminal Investigation Department (FCID) Annex, Alagbon-Ikoyi, Lagos, yesterday arraigned a 22-year-old Joshua Adeyinka Kayode for allegedly defrauding 170 unsuspecting investors to the tune of N10.8 billion under a fraudulent investment.
He was arraigned on 170 counts of conspiracy and obtaining money by false pretence alongside his company, Quintessential Investment Company Limited.
The Prosecutor, Mr. Williams Tijjani, informed the court that the defendant and others now at large committed the offences between July 2020 and March 2021.
Tijani told the court that the defendant defrauded his victims under the pretence of false multiple returns on investment.
He told the court that the offences are contrary to and punishable under section 8(a) and 1(1) (a) (c) of the Advance Fee Fraud and other Fraud Related Offences Act 2006.
However, the defendant denied the allegations and pleaded…