The Economic and Financial Crimes Commission (EFCC) has arraigned one Olabode Rasheed Wale before Justice Mojisola Dada of the Lagos State High Court in Ikeja over allegations of stealing $35,000 (Thirty-Five Thousand U.S. Dollars).
Wale, who was arrested following intelligence reports linking him to an Organized Cyber Crimes Syndicate Network (OCSN), pleaded not guilty to the two-count charge brought against him by the anti-graft agency.
According to the charge sheet, the defendant allegedly stole and converted the said amount belonging to one George Onyeaka between August 2024 and March 2025, in violation of Sections 280 and 287 of the Criminal Law of Lagos State, 2015.
The second count accused Wale of fraudulently obtaining the same amount under false pretence, claiming he would remit it as a refund to the complainant.
During the court proceedings, prosecution counsel A.A. Usman requested a trial date and sought the remand of the defendant in a correctional facility. However, defence lawyer Dauda Shakirudeen argued for bail, stating that the offence was bailable and assuring the court of his client’s availability for trial.
Justice Dada granted Wale bail in the sum of N2 million, requiring two sureties of the same amount. One of the sureties must provide a bank account lien as part of the bail conditions. The court also ordered the defendant to surrender his international passport to the registrar.
The case has been adjourned to October 30, 2025, for the commencement of trial.
The EFCC continues its crackdown on financial crimes, with cybercrime-related fraud cases remaining a top priority for the commission.
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