Laraba MUREY
The Economic and Financial Crimes Commission, EFCC, has arraigned a lawyer, Barrister Alexander Uchenna Ozougwu, for allegedly defrauding victims of N1.3 billion through a fake foreign exchange investment scheme.
Ozougwu appeared before Justice Sergius Onah of the Federal High Court in Uyo, Akwa Ibom State, on Wednesday, February 12, 2025. He was charged with six counts of obtaining money by false pretence under the Money Laundering (Prevention and Prohibition) Act 2022.
The EFCC alleged that the lawyer deceived his victims by posing as a registered bureau de change operator. He reportedly collected their betting account details, promising to fund them but instead diverted the money. Investigations revealed he was running a Ponzi scheme and funneled most of the funds into betting platforms.
One of the charges reads: “That you, Alexander Uchenna Ozougwu, sometime in September 2024, took possession of N268,850,000 through a bank account named STARLIGHT ATTORNEYS, knowing it was proceeds of an unlawful act.”
Ozougwu pleaded not guilty. EFCC’s lawyer, Joshua O. Abolarin, urged the court to remand him in a correctional facility and fix a trial date. However, his lawyer, C. M. Onuchukwu, pleaded for bail, assuring the court that Ozougwu would attend his trial.
Justice Onah granted him bail at N500 million with two sureties who must be civil servants of grade level 12 or higher and own property within the court’s jurisdiction. The defendant was also ordered to submit his passport and two recent photographs to the court.
The judge adjourned the trial to March 31, 2025.
