Court Sets Dates for N740m Investment Fraud Trial

The Federal High Court in Abuja, presided over by Justice Ekeret Akpan, has scheduled a trial for Osabohein Alex Ologbo and his wife, Hope Onom Oghelemu, regarding an alleged N740 million investment fraud. The trial is set for June 22, July 1, and 2, 2026.

The couple, alongside their companies, Onom Global Market Resources Limited and Lexicon Multi Concept Media Limited, face seven counts of fraud, including obtaining money under false pretenses and money laundering, contrary to the Money Laundering (Prevention and Prohibition) Act 2022. They were arraigned on February 16, 2026.

The prosecution, led by Dr. Le Oyewal, indicated readiness to present three witnesses, while defense counsel T.O.

Ochayi expressed unpreparedness to commence the trial. The EFCC's investigation revealed that the defendants allegedly induced unsuspecting members of the public to invest in their business, promising high returns that were never delivered.