Oriyomi and Ruth Idowu face trial over alleged N2.7 billion fraud

The legal saga of Oriyomi and Ruth Idowu is set to unfold as Justice Mojisola Dada has fixed January 10, 2024, for the commencement of their trial. The couple, arraigned by the Economic and Financial Crimes Commission (EFCC) on November 28, 2023, faces a litany of charges. The allegations encompass a spectrum of financial crimes, including obtaining money through false pretenses, money laundering, stealing, retention of stolen property, and forgery, amounting to a staggering N2,757,188,000.00.

Charges and Allegations

The 20-count charges unveiled against the Oriyomi and Ruth Idowu and associated companies such as Food Commodity Processing Enterprise, Bonway Food Processing Company Limited, Samee Idowu Company Limited, and Farmex Integrated Companies Limited, paint a complex web of deceit. Among these counts, one accusation revolves around the conversion of N10,000,000 to purchase a GLK Benz, allegedly derived from N500,000,000 belonging to Creditpro Business Support Services. The charge contends that this transaction was carried out to mask the funds’ illicit origin.

Legal Dynamics and Implications

The gravity of the charges indicates the intricate legal battle ahead for the accused couple and their affiliated companies. The alleged conversion of funds, retaining of substantial amounts in bank accounts, and the web of interconnected businesses are expected to be focal points during the trial. The case not only underscores the purported fraudulent activities but also highlights the complexities of financial crimes and the challenge of untangling the trail of illicitly obtained funds.

As the trial commences on January 10, 2024, the legal system braces for an extensive probe into the alleged financial misappropriation. Justice Mojisola Dada’s courtroom in Ikeja, Lagos, stands poised to witness the unfolding narrative of this high-stakes trial, shedding light on the intricacies of the alleged N2.7bn fraud and its far-reaching implications.

Oriyomi and Ruth Idowu Pleade “Not Guilty” and Bail Hearings Adjourned

In a dramatic court session on Friday, December 15, 2023, Oriyomi and Ruth Idowu facing charges stood firm in their plea of “not guilty,” prompting a subsequent adjournment for the hearing of their bail applications. James Alara, representing the first defendant, Ruth, made a surprising move by withdrawing the initial bail motion. Alara cited the necessity to incorporate crucial medical reports detailing Ruth’s health status in the new application.

However, the defense’s decision faced pushback from the EFCC‘s representative, Bilikisu Buhari, who emphasized the prosecution’s prior response to the now-withdrawn application. Buhari highlighted the late submission of the new bail application, stressing the need for authentication of the medical reports attached to it. Alara, concerned about his client’s health, requested a brief adjournment to enable the court to deliberate on the updated bail plea.

Bail Applications and Legal Maneuvers

Simultaneously, Babatunde Ogala, representing the second defendant, Oriyomi, presented a bail application on behalf of his client. Ogala urged the court to overlook the prosecution’s counter-affidavit and to grant bail to Oriyomi on lenient terms, citing his clean record and compliance during the investigative phase.

Buhari countered with a comprehensive 15-paragraph counter-affidavit, stressing that the court held discretion in granting bail and urged for terms ensuring the defendant’s consistent appearance in court. Subsequently, Justice Dada made a decisive ruling on Oriyomi’s bail application. He granted bail set at N250 million, requiring two sureties demonstrating stable employment and agreeing to have their bank accounts subjected to a lien. Additionally, the defendant must surrender their international passport to the Chief Registrar of the court.

Court’s Verdict and Adjournments

Following the bail ruling for the second defendant, Justice Dada adjourned further proceedings. The court set December 20, 2023, specifically for the bail hearing of the first defendant, Ruth. Additionally, trial dates were scheduled for January 10 and February 2, 2024, marking pivotal milestones in this ongoing legal battle.

The proceedings showcased the legal intricacies surrounding the defendants’ bail applications and emphasized the pivotal role of the court in balancing the interests of justice and ensuring the Oriyomi and Ruth Idowu appearances while safeguarding legal processes. With the next hearing slated, anticipation mounts for the unfolding legal saga on December 20th.