Fakoyejo OlalekanThe founders of investment firm, Imagine Global Holding Company Ltd and Imagine Global Solutions, Bamise Ajetunmobi and Elizabeth Ajetunmobi, have been found guilty of duping unsuspecting Nigerian investors.
The couple were ordered by the Lagos State high court, Ikoyi division, to refund 27 investors their capital and pay interest on the investment for breaching their agreement, bringing relief to the claimants.
Justice Toyin Oyekan-Abdullahi ordered the Ajetunmobis to pay the total sum of N18.8billion; with the breakdown indicating N15.5 Billion will go to the 1st to 17th claimants, while the 18th to 27th plaintiffs will receive N3.3 billion.
Imagine Global Holding Company Limited was established in 2017, claiming to offer 10% monthly returns on high yield investment opportunities and other investment banking related services in Nigeria and across Africa.
Between 2017 to 2021, the company reportedly raised over N20 billion from investors, before carting away with investors money, indicating that Imagine Global Holding is a ponzi scheme. It was gathered that there is an outstanding investments of N11.79 billion.
Order of Lagos court against Ajetunmobi and Imagine Global Holding
- A declaration that this Honourable Court is clothed with jurisdictional competence to enforce the written contracts executed between the parties herein vides this Originating Summons, on the ground that the underlying issues borders on the interpretation of written contracts, that arose out of the Claimants’ respective investment agreements and the failure of the Defendants to comply with the terms of the said agreements.
- A declaration that the Defendants’ failure to comply with the terms of the Investment Agreements executed between the Claimants and the 2nd Defendant, vis-à-vis, the failure of the Defendants to pay the Claimants their investment sums as agreed in the confirmation of investment, constitute a breach of the contract validly entered between the Claimants and the 2nd Defendant.
- An order of this Honourable Court mandating, compelling and directing the Defendants to forthwith pay the 1st – 17th Claimants jointly and severally pay the total sum of N15,541,350,000.00{Fifteen Billion, Five Hundred and Forty-One Million, Three Hundred and Fifty Thousand Naira} at 10.0% interest per annum being the outstanding investment sums accruing to the 1st – 17th Claimants who are investors; together with all other listed investors, in the 2nd Defendant’s company.
- An order of this Honourable Court mandating, compelling and directing the Defendants to forthwith pay the 18th – 27th Claimants jointly and severally pay the total sum of N3,387,450,000.00 (Three Billion, Three Hundred and Eight-Seven Million, Four Hundred and Fifty Thousand Naira Only) at 10.0% interest per annum being the outstanding investment sums accruing to the 18th – 27th Claimants who are investors; together with all other listed investors, in the 2nd Defendant’s company.
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