FinTech Boss, Sunkanmi Ogundipe Remanded In Prison Over Alleged N40.96m Fraud

Mr. Olasunkanmi Babatunde Ogundipe, the Managing Director of KashZone Fintech Limited, has been charged before the Lagos Magistrate’s Court, sitting in Tinubu, Lagos Island with obtaining N40.96 million under false pretence.

Ogundipe, 42, allegedly obtained the money from Ms. Ngozi Odiakoase and 21 other customers.

He was alleged to have collected the money from the complainants, Odiakoase and 21 others on the pretence to invest the money in a lucrative business and repay them back with interest.

Ogundipe was arrested and arraigned before the court by the operatives of the Police Special Fraud Unit, PSFU at Ikoyi, Lagos on a two-count charge of obtaining money under false pretence and stealing.

Police persecuting counsel, Adoga Amedu informed the court in the charge marked S/38/2021 that the defendant committed the offence between 2020 and 2021 at KashZone Fintech Limited in Lagos.

Amedu told the court that the defendant tricked the complainants and collected the sum of N40,960,000 from them to invest the money in a lucrative business with the promise to repay them back with mouth-watering interest.

He said Ogundipe failed to pay back the N40,960,000 and the interest he promised them and instead escaped before he was arrested at a hideout.

The offences he committed were punishable under Sections 314 and 287 of the Criminal law of Lagos State 2015.

Ogundipe pleaded not guilty to the charge.

Magistrate A.O Awoyinka granted him N1million bail with two sureties in like sum.

Awoyinka later adjourned the case till 12 January, 2022 for mention and ordered that the defendant be kept at the Ikoyi Correctional facility till he perfected the bail conditions.