By Ghazali Ibrahim
The trial of Bamise Ajetunmobi, CEO of Imaging Global Solutions Limited, has commenced before a Federal High Court with Attorney General of Federation begining the prosecution.
Ajetunmobi and his wife, Elizabeth, who remains at large, are accused of operating a Ponzi scheme that allegedly defrauded investors of N7.5 billion.
According to the prosecution, Ajetunmobi and his wife lured victims with promises of 10% returns on investment (ROI).
The alleged victims include Mr. Olawale Lawal, who lost N1.5 billion; Mrs. Kate Omu, N500 million; Mr. Erhi Catherine Ojoboh, N2 billion; and Mr. Abioye Idris, N3.5 billion.
During the trial, the prosecution’s first witness, Oluyemi Oyewole, a lawyer and Director with DLA Piper Africa, testified that he was lured into investing N100 million with a promise of 10% returns.
Oyewole stated that he became suspicious when Ajetunmobi delayed interest payments and discovered that the defendant was living an extravagant lifestyle, acquiring multiple properties and expensive cars.
Evidence revealed that Ajetunmobi attempted to flee the country to an offshore island but was barred from entry. He was later arrested in Ivory Coast.
The case has been adjourned to September 26, 2025.
Ajetunmobi’s lawyer pleaded for more time to discuss an out-of-court settlement, but the prosecutor insisted on proceeding with the trial.
In a related development, Ajetunmobi was granted bail in December 2023 after depositing N5 billion into the court’s Deputy Chief Registrar’s account.
The Economic and Financial Crimes Commission (EFCC) had charged him with conspiracy and obtaining N15 billion by false pretence.
