Home News Ponzi: Court Orders Banks To Disclose All Transactions with Ajetunmobi

Ponzi: Court Orders Banks To Disclose All Transactions with Ajetunmobi

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The Lagos High Court Sitting in Ikoyi has ordered all banks to disclose all investments – fixed deposits, treasury bills, and all sums of money, including cryptocurrency – traceable to two firms – Imagine Global Holding Company Limited, Imagine Global Solutions Limited, and the Nigerian couple, Bamise and Elizabeth Ajetunmobi.

The couple is believed to have fled the country after using their two firms to dupe unsuspecting Nigerian investors of over N18.8 billion.

 Twenty seven aggrieved Nigerian investors/claimants had dragged the couple and their two firms before the court.

Justice Toyin Oyekan-Abdullahi also ordered the banks to produce  statements of account of all the four defendants so that all parties can trace how the money moved.

The documents are to be produced on or before the next court sitting which has been fixed for February 27.

Channels Television reports that the court granted the orders after counsel to the first to 17th claimants, Adetunji Adedoyin-Adeniyi, told Justice Oyekanmi-Abdullahi that his clients had stumbled on other parties who were filing similar suits before the Federal High Court.

The lawyer expressed the fear that whoever gets judgment first may take the money, leaving his clients who filed their suit first, stranded.

Justice Oyekan-Abdullahi assured all parties that this would not happen.

At the last sitting of the court, the matter was initially adjourned for ruling on a preliminary objection by the Central Bank of Nigeria and the defendants who claimed that the matter ought to be heard by the Federal High Court since it involved a financial institution.

The court then asked the defendants to produce a licence from the CBN showing that they were a financial institution.

The claimants have, however, submitted that all the defendants came up with was some lenders licence from some states.

They asked the court to discountenance the licences, insisting that they showed the defendants were not regulated by the apex bank.

During the proceedings, the court also asked Wema Bank to disclose all the balance sums in all accounts linked to the defendants.

But the bank told the court it was also a victim having borrowed the defendant’s company N200 million.

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