Fake Farm Investor Arrested in Lagos for Allegedly Swindling N20 Million

Operatives from the Force Investigation Department (FID) at the Force Headquarters Annex in Lagos have arrested Ogunbo Oyindamola, a suspected fraudster, for allegedly deceiving businessman Michael Ayodeji and stealing N20 million.

Oyindamola was charged before a Lagos Magistrate’s Court for the alleged crime.

According to police reports, Oyindamola posed as a farm investor and promised Ayodeji that she would use the funds to establish a farm settlement on his behalf. However, it is alleged that Oyindamola had no intention of fulfilling the promise and absconded with the money after receiving it.

Following the alleged scam, Ayodeji filed a petition with the Inspector General of Police (IGP), who then assigned the case to a specialized team at the FID in Lagos.

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Oyindamola was apprehended at a Lagos hideout and has been charged at the Igbosere Magistrate’s Court on Lagos Island with five counts, including obtaining money under false pretenses and theft.

Prosecutor Inspector Gbenga Salami informed the court that the offence occurred between October 2021 and 2022. He detailed that Oyindamola falsely represented herself as a farmer, collected N20 million from Ayodeji, and then disappeared without delivering on her promise.

Salami also revealed that Oyindamola, with an accomplice named Oyemakinde Ayokunle, attempted to repay the stolen amount by issuing a N20 million cheque. However, the cheque was dishonored due to insufficient funds when presented to the bank.

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Oyindamola faces charges under sections 411, 287, 314(a)(b) of the Criminal Law of Lagos State, 2015, and the Cheques Offences Act Cap D11, Laws of the Federation of Nigeria (LFN), 2004.

She pleaded not guilty to the charges. Her counsel, N.G. Lawal, requested bail under lenient terms, promising that Oyindamola would not abscond.

Chief Magistrate M.A. Sonuga granted bail in the sum of N1 million with two sureties in like amount. The case was adjourned to October 23, 2024, for mention, and Oyindamola was ordered to remain at Kirikiri Correctional Facility until her bail conditions are met.

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