The Economic and Financial Crimes Commission (EFCC) in Lagos has arraigned Ayodele Toyosi for allegedly defrauding investors of N600 million and $50,000. The defendant appeared before Justice A.M. Lawal of the Lagos State High Court in Ikeja on Monday, August 19, 2024, alongside his companies, Reaprite Global Limited and Agrorite Limited.
Toyosi faces an 11-count charge that includes obtaining money by false pretence and stealing. According to the EFCC, Toyosi allegedly convinced victims to invest in a fake agricultural export scheme, converting funds for personal use. One charge highlights how Toyosi allegedly diverted N200 million meant for an import transaction to his personal accounts. The case continues as Toyosi pleads not guilty.
