A Nollywood film-maker and producer, Olajide Kareem, alias Seun Egbegbe, has been freed by a Federal High court in Lagos, after spending six years and eight months in prison custody.
Egbegbe 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 for over a period of two years between 2015 to 2017.
He was accused of swindling the BDC operators by claiming that he had naira to change into foreign currencies.
The 45-year-old controversial figure in the Yoruba movie industry, was arraigned by the police for alleged fraud involving N39m; $90,000 and £12,550, N39,098,100, respectively.
Egbegbe, who once managed Fuji artists, Wale Ayinde, Tekoma, and Pasuma, was accused of swindling BDC operators.
Unfortunately, the film-maker who financed the production of several Yoruba films under his Ebony Films Productions imprint, had been unable to fulfill the bail conditions more than three years after.
The ex-convict alongside one Oyekan Ayomide were first arraigned on February 10, 2017, before Justice Oluremi Oguntoyinbo, on 36 counts bordering on advance fee fraud.