Justice Olabisi Akinlade of the Lagos High Court, Ikeja, on Tuesday ruled that an alleged serial fraudster, Seun Ogunbambo, continue to stay at the Kirikiri Maximum Security Prison, Lagos.
Mr. Ogunbambo is involved in multiple cases of fraud and is renowned for his ease to assume multiple identities, according to the Economic and Financial Crimes Commission, EFCC.
The commission is accusing Mr. Ogunbambo, and his company, Adeline Investment Ltd., of fraudulently obtaining a credit facility of over N1.2bn from Stanbic IBTC Bank Plc in 2009.
Mr. Ogunbambo conspired with Olamide Ogunbambo and David Ayodele – both of them at large – to obtain the facility, the commission said.
While fixing trial for January 24th, 2013; Ms. Akinlade said that the defendant did not convince the court that he would not jump bail before the date.
“I’ve gone through the evidence against the defendant, the evidence is quite weighty and serious,” Ms. Akinlade said.
“Also, the claims that the defendant was using different names to procure international passports at different times were not challenged or contradicted; therefore admitted as the truth,” the judge added.
The judge maintained that she would give the trial an accelerated hearing.
The credit facility was granted to Mr. Ogunbambo, after he forged bank statement of Guaranty Trust Bank and Bank PHB, in four tranches – N610m, N230m, N200m and N180m, according to the anti graft agency.
In the bank statements that helped facilitate the fraud, Mr. Ogunbambo claimed that he earns a monthly salary of N5.5m, with an additional N5m per month taking care of his housing allowance, the EFCC added.
When he was arraigned last week, Mr. Ogunbambo pleaded not guilty to all 14 counts and was remanded in prison.
PLEA BARGAIN
At the hearing of the bail application on Tuesday, Adebayo Adenipekun, counsel to Mr. Ogunbambo, said that his client had already refunded N120 million to the bank.
Mr. Adenipekun also told the judge that they have been meeting with the EFCC, as well as Stanbic IBTC, towards a resolution of the matter.
“It is not in dispute that before the arraignment and after the arraignment, the applicant has been meeting the complainant towards the settlement of the matter,” said Mr. Adenipekun, a Senior Advocate of Nigeria.
“The applicant will not only attend trial when the trial commences, he is also taking steps to settle this matter by plea bargaining,” he added.
Ms. Akinlade, however, responded that their meeting is not the matter before the court.
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