A Lagos Special Offences Court sitting in Ikeja has fixed May 5 to arraign Friday Audu, the suspected Nigerian mastermind behind the activities of the 193 foreigners and 599 Nigerians who were arrested in December 2024, for offences bordering on Cryptocurrency Investment Fraud and Romance Scam.
Audu, who is accused of fraud to the tune of $2.6 million and N3.5 billion, is to be arraigned alongside his company, Genting International Ltd, on a seven-count charge.
The suspect also faces counts bordering on retention of stolen property, forgery and possession of fraudulent documents, proffered against him by the Economic and Financial Crimes Commission (EFCC).
When the case was called on Monday, the EFCC Counsel, Mrs Bilikisu Bala-Buhari, informed the court that the case was slated for the arraignment of the defendants.
Dr. Muiz Banire (SAN) appeared for the first defendant (Audu) while the second defendant, (Genting International Ltd) was not represented by any counsel.
Buhari informed the court that the first defendant resisted service and representation on behalf of the second defendant.
The prosecution thereafter sought the leave of the court to serve hearing notice on the last known address of the second defendant.
Justice Rahman Oshodi adjourned the case until May 5 for arraignment.
Apart from this charge, Audu and two other Chinese nationals, Huang Haoyu and An Hongxu, and their company, Genting International Ltd, are standing trial before the Federal High court, Lagos on a 12-count charge of alleged cybercrime.
They had been arraigned before the court on Monday, March 17, 2025 but at the last sitting of the court on March 20, the EFCC re-arrested Audu outside the premises of the court, shortly after he was granted bail.
Audu, who was alleged to have been the kingpin behind the recruiting of several young Nigerians for the organised crime syndicate was granted bail in the sum of N50m with two sureties.
In this fresh charge dated April 15, the EFCC alleged that Audu and his company retained stolen property by conspiring to retain $1,262,000 USDT in the wallet address TP6UTEmch6cto72Y7Pj3Bkn84LSqjSr7PX (binance), a property fraudulently obtained.
The anti-graft agency also alleged that the defendants retained $1,300,203 USDT in the wallet address TQbgiFXAf17RX8j2nkFwwzBDo22WWrdcRn (BYBIT), property fraudulently obtained.
The commission also submitted that the defendants conspired amongst themselves to dishonestly retain in Genting International Co. ltd’s account number 0225100403 domiciled in Union Bank the sum of N3.5 billion funds fraudulently obtained.
EFCC also alleged the defendant sometime in 2024 knowingly forged a document titled “Ultimate Beneficial Ownership (UBO) Declaration Form” and purported same to have been signed by one Mr Baffale Yakubu.
According to the prosecution, the alleged offences violate Sections 328, 365 and 411 of the Criminal Law of Lagos state, 2011 and Sections 6 and 1(3) of the Advance Fee Fraud and Other fraud related Offences Act, 2006.
