Police Arraign Couple, Six Others Over Alleged N710m Fraud

Operatives of the Police Special Fraud Unit (PSFU), Ikoyi, Lagos, have arraigned a couple, Mr. Obinyan Emmanuel Osenonome, his wife, Esther Obinyan and six others before a Federal High Court, Lagos, on a 12-count amended charge bordering on conspiracy, fraudulent conversion of funds, concealing source of funds and N710 million fraud.

Other defendants arraigned alongside the Obinyans before Justice Ambrose Lewis-Allagoa were: Elvis Osazee Eghile, Egharevba Maryjane Osarieyekemwen, Precious Omonigho Irbhogbe, Aghatise Kelvin Uhumenkpoewan, Nweke Nnamdi Emmanuel, Egharevba Emmanuel Osagioduwa, who were listed as first to sixth defendants in the amended charge.

The prosecutor, Momoh Yakubu Esq, a Chief Superintendent of Police (CSP) while arraigning all the defendants on Friday, October 2, informed the court that the defendants’ alleged financial crimes were committed on or about June 16, 2026, in Lagos, within the jurisdiction of the court.

In the charge, the prosecutor alleged that the eight defendants and others still at large conspired to fraudulently convert N710 million by acquiring and concealing the funds, knowing or reasonably expecting to know that the money represented proceeds of an unlawful act.

In counts two, three and four of the charge, the banker, Obinyan Emmanuel Osenonome and others were accused of obtaining the N710 million from ETF Nigeria Ltd/Grey Star Capital through different beneficiaries’ accounts under the false pretence that the money would serve as proof of funds, be placed on lien and returned with interest.

Obinyan was also accused of acquiring the N710 million through private accounts and forged documents, while allegedly knowing or having reason to know that the funds were proceeds of unlawful activity.

The charge further alleged that he altered proof-of-funds documents, including signatures, indemnity and Post No Debit documents, with the intention that they be used as genuine documents.

While his wife, Obinyan Esther and another defendant, Nweke Nnamdi Emmanuel were alleged to have acquired and taken possession of N263 million and N279.7 million respectively, parts of the alleged fraud.

Other counts focused on individual sums allegedly received through the bank accounts of some of the defendants.

Aghatise was accused of acquiring N90 million, while Egharevba Emmanuel allegedly acquired and concealed N95 million.

While Eghile and Egharevba Maryjane were accused of concealing and disguising the origin of N85 million and N93 million, said to be parts of the alleged financial fraud. Also, the prosecutor informed the court that another defendant in the charge, Precious Omonigho Irbhogbe also acquired and took possession of N87 million, part of the financial crime.

The prosecutor told the court that the alleged illegal acts of all the defendants are contrary to Section 21(a) and punishable under Section 20(b) of the Money Laundering (Prevention and Prohibition) Act, 2022; Section 1(1c) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, and punishable under Section 1(3) of the same Act.

And Section 1(2)(c) of the Miscellaneous Offences Act, Cap M17, Laws of the Federation of Nigeria, 2004.

All the defendants however denied the allegations and pleaded not guilty to the charges.

Based on the defendants’ not guilty plea, the prosecutor prayed the court for a trial date and urged the court to remand them pending the determination of the charge. However, all the defendants through their lawyers, prayed the court for a short date for their bail applications to be heard and determined.

Consequently, Justice Lewis-Allagoa adjourned the matter to October 13, for hearing of the bail applications, while ordering that all the defendants be remanded pending the hearing and determination of their bail applications.