EFCC Arraigns ‘Pastor’ for Fraud

EFCC Arraigns ‘Pastor’ for Fraud


Man claiming to be a pastor,  Isaac Arabambi was Monday  dragged  before Justice Joyce Abdulmalik of the Federal High Court, Ibadan, Oyo State, on a four-count charge including obtaining money by false pretence by the Financial Crimes Commission, EFCC, Ibadan. He was charged alongside  his company, Heroes Investment Company Limited

Arabambi was earlier, on January 15,  2019 charged with  11-count charge including  unauthorized operation of a financial institution and obtaining the sum of N62, 326,250.60 (Sixty Two Million, Three Hundred and Twenty Six Thousand Two Hundred and Fifty Naira Sixty Kobo) only by false pretence. He appeared before the same judge.

One of the four counts reads: “That you Isaac Arabambi and Heroes Investment Limited on or about 14th July, 2016 at Ibadan within the Ibadan jurisdiction of this Honourable Court with intent to defraud, obtained the sum of N1,910,000 from one Lala Sunday by falsely representing that the money would be invested in his Borrowed Fund Account domiciled with you, which representation you knew to be false and thereby committed an offence contrary to Section 1(1)(a)and punishable under Section 1(3) of the Advance Fee Fraud and Other Fraud Related Offenses Act 2006”.

He pleaded “not guilty” to the charges.

Justice Abdulmalik, granted the defendant bail in the sum of N500, 000 and one surety in like sum, who must deposit his international passport with the Court and must be a civil servant with the Oyo State Civil Service not below grade level 12.

Adjourning to February 20, 2019 the trial judge ordered that he should be remanded in Agodi Prison pending the perfection of his bail application

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