Nollywood film-maker and producer, Olajide Kareem, aka Seun Egbegbe, has regained his freedom after spending three years in prison custody.
The filmmaker and producer was remanded on February 10, 2017, after allegedly obtaining money by false pretence from no fewer than 40 Bureaus De Change operators in different parts of Lagos State.
He was accused of swindling the BDC operators by claiming that he had naira to change into foreign currencies and vice versa.
Egbegebe was docked for series of frauds involving N39,098,100, $90,000 and £12,550.
Seun Egbegbe alongside one Oyekan Ayomide were first arraigned on February 10, 2017, before Justice Oluremi Oguntoyinbo, on 36 counts bordering on advance fee fraud.
The duo were later joined by Lawal Kareem, Olalekan Yusuf and Muyideen Shoyombo on 49-count charge.
Oguntoyinbo ordered them to be remanded in prison until they meet the bail conditions.
The police prosecutor, Anyigor, had told the court that he had no fewer than 40 witnesses, including the BDC operators, who would testify against Egbegbe and his co-defendants.
However on October 11, a Federal High Court, Ikoyi in Lagos found Egbegbe guilty of just one of the 44 counts charges against him and set him free.
Justice Oluremi Oguntoyinbo declared that 43 of the 44 count charges were quashed because of lack of witnesses to substantiate their claims.
She also decried that the prosecuting team failed in the responsibility to produce evidence, to be backed with witnesses on Counts 4, 19 and 21.
The judge also said that police tampered with the money recovered from the suspects, as she also ruled that all the money recovered from Egbegbe as evidence should be returned to him.
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