The Enugu Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) has brought one Rufus John Isip, a self-proclaimed forex broker, before Justice C. S. Onah of the Federal High Court in Uyo, Akwa Ibom State.
According to a statement released on Saturday, July 20, 2024, by Head of Media and Publicity, Dele Oyewale, Isip was arraigned on July 19, 2024, alongside his company, ITM-IT Resources Limited. They face an eight-count charge involving fraudulent conversion, money laundering, and obtaining by false pretence, amounting to N2,022,081,172.
Count one of the charges states: “That you, Rufus John Isip, while being the Director of ITM-IT Resources Limited, sometime between December 2020 and May 2021 in Uyo, Akwa Ibom State, within the jurisdiction of the Federal High Court of Nigeria, with intent to defraud, obtained the sum of N431,331,172 from Michael Okon, the Director of N-Rex Resources Limited, under the false pretence that it was an investment in Vandera, an online investment platform, on his behalf, which pretence you knew to be false and thereby committed an offence contrary to Section 1 (1) (a) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006 and punishable under Section 1 (3) of the same Act.”
Count eight details: “That you, Rufus John Isip, while being the Director of ITM-IT Resources Limited, sometime between December 2020 and May 2021 in Uyo, Akwa Ibom State, within the jurisdiction of the Federal High Court of Nigeria, converted the total sum of N730,870,000 to cryptocurrency (Bitcoin) and transferred it into your Binance Wallet knowing that the said money formed part of your unlawful act and you thereby committed an offence contrary to Section 15 (2) (d) of the Money Laundering (Prevention and Prohibition) Act, 2011 and punishable under Section 15 (3) (4) of the same Act.”
Isip pleaded not guilty to all charges. Following this, Khamis Mahmud, counsel to the EFCC, requested the court to remand him in EFCC custody, citing ongoing investigations. The defence counsel, Samson Ewuje, did not object to this request.
Justice Onah adjourned the case to October 14, 2024, for trial, and ordered the defendant to be remanded at the Uyo Zonal Directorate of the EFCC.
Isip’s arrest followed a petition from Michael George, who alleged that he was persuaded to invest in Isip’s online trading platform, Vandora.io. George claimed that Isip promised higher profits with a minimum trading capital of $100,000 and encouraged him to bring more investors. After the investment period elapsed, Isip disappeared, leaving the investors defrauded.
Stay updated by joining our WhatsApp channel here.