Businessman Faces Court Over Alleged £122,000 Investment Fraud

A businessman named Ashley Segun Oshin has been taken to court by the Economic and Financial Crimes Commission (EFCC) in Lagos. He faces charges related to an alleged investment fraud involving £122,000.

The case was brought before the Lagos State High Court in Ikeja on Thursday. Justice Ismail Ijelu is overseeing the proceedings. The EFCC claims that Oshin misled two individuals into investing their money in a fund he managed, promising them high returns.

According to the EFCC, Oshin convinced Miss Oluwafemi Fajana and Mr. Abiodun Adeogun to invest between 2009 and 2010, assuring them of a 40 percent annual return. The commission argues that he knew this promise was false.

During the arraignment, Oshin pleaded not guilty to the charges. The prosecution requested a trial date and asked the court to keep Oshin in custody while the case is ongoing. Oshin’s lawyer has also filed a request for bail, which the prosecution is currently reviewing.

Justice Ijelu has ordered that Oshin remain in a correctional facility until the next court date. The trial is set to continue on November 18, 2026, when the bail application will also be discussed.