A Chief Magistrate’s Court in Yola, Adamawa State, has ordered the remand of Bashar Hamza over allegations that he diverted funds belonging to his employer, BM Yelwa, to invest in a cryptocurrency business.
Bashar Hamza, a resident of the Old Market area of Jimeta in Yola North Local Government Area, was arraigned before Chief Magistrate Court II, presided over by Magistrate Dorcas Mavah, on charges of criminal conspiracy and theft.
According to details of the case, Bashar Hamza allegedly diverted substantial sums from the company and sold some of his personal assets to raise a total of N109 million, which he invested in a cryptocurrency venture that reportedly failed.
He was said to have ventured into cryptocurrency trading after making an earlier profit of N30 million, which allegedly encouraged him to invest more heavily.
The court ordered his remand at the Yolde Pate Correctional Facility.
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