The Uyo Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) has arraigned lawyer, Alexander Ozougwu, before the Federal High Court in Uyo, Akwa Ibom State, for allegedly defrauding his victims of over N1.32 billion.
In a statement issued by the EFCC’s Head of Media & Publicity, Mr. Dele Oyewale, the accused was charged with offenses under Section 18(3) of the Money Laundering (Prevention and Prohibition) Act 2022. Ozougwu allegedly masterminded a fraudulent foreign exchange investment scheme, deceiving his victims into investing large sums of money.
On February 12, 2025, the lawyer was arraigned before Justice Sergius Onah of the Federal High Court in Uyo. According to the EFCC, Ozougwu defrauded his victims to the tune of N1,323,850,000.00 (One Billion, Three Hundred and Twenty-Three Million, Eight Hundred and Fifty Thousand Naira) through a fake foreign exchange scheme.
Ozougwu faces a six-count charge for obtaining money by false pretenses, in violation of the Money Laundering Act. One of the charges alleges that he took N268,850,000 in September 2024 via a bank account in the name of STARLIGHT ATTORNEYS, knowing that it was the proceeds of unlawful activity.
Another charge involves Ozougwu allegedly receiving N213,000,000 in July 2024 through the same bank account, which also formed part of the fraudulent scheme. He pleaded not guilty to the charges.
