Justice Mojisola Dada of a Special Offences Court in Ikeja, Lagos on Thursday turned down the bail application of a serial fraudster and lawyer, Fred Ajudua, ruling that he would remain at Kirikiri Prison until the conclusion of his trial.
The judge said the court was convinced that granting Ajudua bail would further truncate his trial that has suffered series of setbacks since his first arraignment on March 5, 2009 before Justice Oyefeso.
The Economic and Financial Crimes Commission, EFCC, had re-arraigned Fred Ajudua before Justice Dada following the reassignment of the case file by the Chief Judge of Lagos State, Justice Opeyemi Oke.
The Chief Judge reassigned it to the Special Court for accelerated hearing.
Fred Ajudua was allegedly to have defrauded one Ziad Abu Zalaf of Technical International Limited, a German-based firm of one million dollars.
Ajudua pleaded not guilty to the twelve count charges bordering on conspiracy and fraud.
The EFCC alleged that Ajudua and his accomplice, Joseph Ochunor, had sometime in 1993 carried out the act by forging Central Bank of Nigeria, CBN, official receipt numbers 128 and 138 the bank issued to Zalaf as genuine.
In his ruling, Justice Dada ordered that Ajudua be transferred from Ikoyi to Kirikiri Prison where he was earlier remanded pending the ruling.