Court decline $859,939 fraud suspect, Femi Ogunlowo bail

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(Nigeria) Justice R. Adebiyi of the Lagos State High Court  sitting in Igbosere, on Thursday, dismissed a bail application by Femi Ogunlowo.
The application was dismissed on ground that the defendant may likely interfere with the ongoing investigation by the Economic and Financial Crimes Commission,  EFCC.
Ogunlowo was arraigned by the EFCC on March 14, 2016 before the same court on a 10 count charge of conspiracy, stealing and obtaining the sum of $859,939 under false pretences from a company in Switzerland.
He pleaded not guilty to the charge and he was remanded in prison pending determination of bail hearing which was adjourned till Thursday.
At the resumed hearing of the bail application, counsel representing the defendant D. Awosika prayed the court in his address to admit his client to bail on grounds that the defendant was initially granted an administrative bail by the EFCC and also, he has never been convicted before.
He added that the defendant is willing to supply reliable sureties if the bail granted and also that the offence is bailable one.
However, Rotimi Oyedepo of the prosecution in a counter affidavit opposed the bail application.
In his submission, Oyedepo informed the court that while the defendant was still in detention, he allegedly concealed three blank cheque in soup bowl which he uses to obtain a property in Ibadan. He further stated that the bank manager was contacted and he confirmed that the he received a phone call with instruction from the defendant to execute the transaction.
Oyedepo also informed the court that in the course of investigating this case, another $11,000,000 was discovered to have been fraudulently obtained from vulnerable victims by the defendant.
He said the investigation into that scam was still on-going and if the defendant was granted bail, he is likely to interfere with the investigation.
After listening and observing argument by the counsel, Justice Adebiyi upheld the argument of the prosecution and dismissed the application.
The matter was adjourned to April 18, 19, 25 and 26 for trial.

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