How Police Busted Forex Scam Kingpin, Bassey Ikpi Over Multi-Billion Naira Fraud

MICHAEL AKINOLA 

Police intelligence team has arrested a 39-year old suspected forex fraud Kingpin, Bassey Ikpi, for allegedly swindling companies and individuals to the tune of huge amounts running into billions of Naira equivalent of foreign currency obtained within one year in Lagos State. 

 

P.M.EXPRESS reports that the suspect, Bassey Ikpi, has been charged before the Ebute Metta Chief Magistrates Court on the allegations of defrauding individuals and companies of significant amounts of money through fraudulent forex trading schemes.

 

He is facing four-count charges of conspiracy, obtaining money by false pretence, fraud, and breach of public peace under the Criminal Laws of the State.

 

The prosecutor, Inspector Cyriacus Osuji, told the Court that the defendant, Ikpi, along with other accomplices at large, allegedly defrauded victims of N1,066,311,503, $355,000, and €13,000 under false pretence, which took place on October 18, 2023, in Ikeja, Lagos.

 

Some of the victims included Mrs. Caroline Kamaya, who allegedly lost N25 million, Mrs. Tope Augustine was defrauded of N36 million while Mrs. Henrietta Achiekwelu, reportedly lost N200 million, $75,000, and €13,000.

 

The defendant, Ikpi was alleged to have duped NKG Energy Services of N82,211,503, Sacvin Nigeria of N683,100,000, and Neco Trading Services Limited, along with Mr. Arinze Anyaeche of $280,000.

 

Also Mrs. Stella Mohammed and Mr. Tokunbo Adebiyi were also allegedly swindled to the tune of N21m and N19m, respectively.

Inspector Osuji further claimed that Ikpi’s actions were not only fraudulent but also disruptive to public peace which violate Sections 411, 314, 380 (1), and 168 (1)(d)(f) of the Lagos State Criminal Laws of 2015 and attracts several years of imprisonment.

 

However, he pleaded not guilty.

The Presiding Magistrate, Mrs. Abimbola Davies, granted him bail in the sum N2 million with two sureties in like sum, who must show evidence of means of livelihood and tax payment while addresses will be verified by the Court.

 

The matter was adjourned till 10th September, 2024, for mention while the defendant was remanded in custody at the correctional center pending when he will perfect his bail conditions.