The trial of A. OluwaSesan, indicted in a computer-related theft case involving $87,883,904, has been adjourned by the Federal Capital Territory High Court, Abuja.
The Inspector General of Police, Kayode Egbetokun, sued the defendant for allegedly gaining unauthorized access to subscribers’ investments at the Afriq Arbitrage Company, an online trading platform, and stealing $87,883,904.
The prosecution alleges that the defendant committed cybercrime and money laundering against the trading platform by knowingly and without authority fraudulently changing the ownership credentials of the Chief Executive Officer of Afriq Arbitrage Company, thereby gaining access to millions of subscribers’ investments and diverting the sum of $87,883,904 to himself.
The defendant was arraigned before the court and pleaded not guilty. He was then granted bail pending the perfection of the bail conditions.
At the resumed hearing on Monday, the prosecution’s legal team informed the court that the defendant could not be produced today.
The prosecution explained that with respect to the recent jailbreak at Suleja Correctional Center, there is no instruction from authorities to move inmates there to any court for now.
The defendant’s counsel, Ayotunde Ogunleye (SAN), seized the moment to seek varying of the bail conditions of his client, especially in the area of sureties.
The lawyer also told the court that the prosecution had recovered some properties from the defendant in line with an out-of-court agreement by the parties.
The Presiding Judge, Justice M.S. Idris, subsequently adjourned proceedings to May 2 for ruling and hearing following the absence of the defendant and the request by his lawyers that his bail conditions be varied.
The platform’s founder, Mr Jesam Micheal, told newsmen that his former staff “became so rich” after he gave him the credentials of his trading platform to manage in his absence.