The Economic and Financial Crimes Commission (EFCC) has arraigned a Nigerian-American, Oluwatobi Adegoke, before a Lagos court over an alleged luxury vehicle fraud involving the conversion of $680,000 belonging to a Nigerian businessman.
Adegoke was arraigned on Thursday, October 8, 2026, before Justice Olubunmi Abike-Fadipe of the Special Offences Court, Ikeja, on a one-count charge of stealing.
The EFCC’s Ilorin Zonal Directorate said the defendant’s arrest in July 2026 followed investigations into an alleged cross-border vehicle importation fraud involving more than $320,000, reportedly equivalent to over ₦434.88 million.
According to the commission, preliminary investigations suggested that Adegoke was allegedly connected to a syndicate based in the United States that targeted Nigerians under the pretext of purchasing and shipping vehicles from America.
The investigation reportedly revealed that while residing in the US, Adegoke advertised and circulated photographs of a 2024 Mercedes-Benz G63 AMG to prospective Nigerian buyers, claiming he could procure and ship the luxury vehicle to them.
The EFCC said two victims allegedly paid a combined sum exceeding $320,000 in connection with the transaction.
However, the charge presented before the court cited an alleged transaction involving $680,000 belonging to Ikechukwu Osita Ifeabunike.
The charge alleged that Adegoke, sometime in December 2024 in Lagos, within the Ikeja judicial division, dishonestly converted the money to his personal use after it was transferred to the bank account of his company, Omosco Auto Sales LLC, for the purchase of a 2022 G-Wagon from a person identified as Mr Robinson.
Adegoke pleaded not guilty to the charge.
Following his plea, EFCC counsel, Arazeem Adebayo, urged the court to adjourn the matter for trial and order the defendant’s remand in a correctional facility.
Defence counsel, Olalekan Abiodun, who had earlier raised an objection to the arraignment but was overruled, subsequently asked the court to keep his client in EFCC custody pending the filing of a bail application.
Justice Abike-Fadipe also rejected the defence’s application for EFCC custody and ordered that Adegoke be remanded at the Kirikiri Correctional Centre.
The court adjourned the case until January 13, 2027, for trial.
The allegations against Adegoke are yet to be determined by the court.
