A witness of the Economic and Financial Crimes Commission (EFCC) on Monday told a Federal High Court in Ibadan, Oyo State, that a businessman, Gbenga Olaniyan, defrauded over 2,000 investors of a total of N135 million, Nigerian Tribune reports.
Olaniyan, the Chief Executive Officer (CEO) of Detorrid Heritage Investment Nigeria Limited (DHIL), who introduced a product known as Crime Alert Security Network, is charged with N135 million fraud.
Mrs Juliet Odogu, Head of Counter-Terrorism and General Investigation Department, EFCC Ibadan Zonal office, made the allegation while testifying before Justice Uche Agomoh.
She explained that EFCC received over 2,000 petitions from Nigerians that Olaniyan defrauded them of their hard-earned money after refusing to fulfil his obligation of repaying their dividends.
The witness said that investors paid between N5,000 and N9 million depending on their subscriptions.
She tendered the documents containing the names, amount paid and receipts of each customer that petitioned the agency before the court.
Defence counsel, Mr Richard Ogunwole, had earlier opposed the tendering of some documents by the EFCC.
Ogunwole contended that the documents were not admissible by the court because they were mere photocopies and not certified true copies.
However, the judge overruled the objection and admitted the documents as exhibits against the defendant.
Agomoh subsequently adjourned the matter till March 1, March 2 and March 3 for the continuation of trial.