By Paul Sanusi
Men of Force Criminal Investigation Department ForceCID Annex Alagbon-Ikoyi Lagos, have arraigned a 42 year-old businessman, Prince Blessed Peters, before a Federal High Court, Lagos, over alleged N3.53bn investment fraud.
Prince was arraigned before the court presided over by Justice Musa Kakaki, on a three count-charge of conspiracy, obtaining the sum of N3, 531, 747, 405 billion by false pretence and unlawful conversation of funds, belonging to 191 investors of Solid Trust Service Limited.
The prosecutors, Samuel A. Ogala and Hammed R. Agbolade, while arraigning the businessman told the court that the defendant and others now at large committed between March and September 2026 in Lagos.
The defendant was also alleged to have fraudulently obtaining the sum of from 191 investors of Solid Trust Service Limited, with the pretence of investing the money in agriculture businesses.
He was also alleged collected the money from the unsuspected investors with the disguise that each investors would receive approximately 75.7 per cent Returns on investment (RoI) after three months.
The prosecutors told the court further that the defendant, after collecting the money from the unsuspecting investors, diverted and convert d to his own use.
The defendant’s illegal acts, the prosecutor said are contrary to sections Sections 8 and 1(1)(3) of Advance Fee Fraud and other Fraud Related Offences Act 2006. And Section 390(9) of the Criminal Code Act, Cap C38, LFN 2004.
The defendant has denied the charges and pleaded not guilty to the offences.
Based on his plea of not guilty, the prosecutor prayed the court for a trial date. While also urged the court to remand the businessman in the facility of the Nigerian Correctional Services (NCoS) pending the determination of the charge.
But the defendant, prayed the court for a date to hear his bail application.
In his ruling, Justice Kakaki ordered that the defendant be remanded at the NCoS’ facility, while adjourned to December 3, for hearing of the bail application.
Charges against the defendant read: “that you PRINCE BLESSED PETERS ‘m’ and others now at large etimes between the months of March and September, 2026 in Lagos in the Jurisdiction of this Honourable Court, did conspire amongst yourself to commit felony to with: obtaining money under false pretense ane thereby committed an offence contrary to and punishable under Section 8 of Advance Fee Fraud and other Fraud Related Offences Act 2006.
“That you Prince Blessed Peters ‘M’ and others now at large sometimes between the months of March and September, 2026, in Lagos within the Jurisdiction of this Honourable Court did with intent to defraud fraudulently obtained the sum of Three Billion, Five Hundred and Thirty-One Million, Seven Hundred and FortySeven Thousand, Four Hundred and Sixty-Five Naira (N3, 531, 747, 405-00) from 191 investors of Solid Trust Service limited under false representation that you were going to invest in the company’s agricultural investment scheme for them which would yield approximately 75.7% return after three months, the representation you knew to be false and you thereby committed an offence contrary to and punishable under Section 1() (3) of the ADVANCED Fee Fraud and Other Fraud Related Offences Act, 2006.
“That you Prince Blessed Peters ‘M’ and others now at large sometimes between the months of March and September, 2026, in Lagos within the Jurisdiction of this Honourable Court, did convert to Own use, the sum of Three Billion, Five Hundred and Thirty-one Million, Seven Hundred and Forty-Seven Thousand, Four Hundred and Forty-Seven Thousand, Four Hundred and Sixty-Five Naira (N3, 531, 747, 465. 00), being the money entrusted to you by 191 investors of Solid Trust Service Limited for investment in the company’s agricultural investment scheme and thereby committed an offence contrary to and punishable under Section 390(9) of the Criminal Code Act, Cap C38, LFN 2004.”
