Alleged $1.4m Internet Fraud: Court Grants Man N50m Bail

An Ikeja Special Offences Court on Monday granted bail in the sum of N50 million to one Kolawole Erinle charged with $1.4 million internet fraud.

Erinle is charged by the Economic and Financial Crimes Commission (EFCC ).

The News Agency of Nigeria (NAN) reports that Justice Oluwatoyin Taiwo also ordered Erinle to produce two sureties in like sum.

Taiwo ordered that one of the sureties must be a landed property owner within the court’s jurisdiction, and the other, a grade level 16 civil servant with three years’ tax evidence.

She added that the sureties must show evidence of gainful employment.

The judge also ordered the defendant to deposit his international passport pending the conclusion of the case.

“The defendant should be remanded at the Ikoyi Correctional Centre pending the perfection of his bail conditions,” she said.

Taiwo adjourned the case until April 28 for commencement of trial.

NAN reports that EFCC accused Erinle of parading himself as one J.E. Dunn, of a local construction company in America.

The commission said that Erinle had the intent to gain a monetary advantage to the tune of $1.4 million, by creating a fake domain name – ‘jedunn.org.

The defendant, however, pleaded not guilty to the three-count charge of conspiracy, retention of crime proceeds and obtaining money under false pretences.

The EFCC alleged the defendant illegally retained the money in his Access Bank account.

It alleged that the defendant and his company, Rinde-Rendex, committed the alleged offences with one Edward Dada, still at large.

According to the commission, the alleged offences took place on May 3, 2019, in Lagos State.

Defence counsel, Mr Olayinka Farounbi, had moved a bail application for the defendant on March 15, praying the court to grant him bail on most liberal terms.

Prosecution counsel, Mr Tope Banjo, however, opposed the application, arguing that the defendant was a flight-risk and an ex-convict in the U.S.

According to EFCC, the alleged offences contravened Sections 1(3) and 8 of the Advance Fee Fraud and Other Offences Act of 2006 and Section 17(a)(b) EFCC Act of 2004. (NAN)