Man Docked Over N20m Fraud

Men of the Special Fraud Unit, Milverton Street, Ikoyi, Lagos, southwest Nigeria, have arraigned a man, Adeoye Olumide, 33, before the Igbosere Magistrate’s Court on a two-count charge of obtaining money under false pretence.

The police alleged in the charge suit C/39/2011 that the accused was arrested and arraigned in court, following a complaint by one Wole Ogunremi that the accused sometime in the months of May, 2010 on Victoria Island, Lagos, allegedly fraudulently obtained N20 million from a suspect in respect of an oil transaction which he claimed was genuine, a claim which later turned out to be false and all efforts by him to recover his money from the accused proved abortive.

The accused was alleged to have approached the victim to invest the money in oil business to make profits, and based on the trust, he allegedly gave him the money for the oil transaction, but the business later turned out to be false and the accused refused to refund the money.

After investigation, the police charged the accused to court for stealing, offences the prosecutor, Inspector Idowu Osangbure, said contravened section 419 and 390 (9) of the criminal code laws of Lagos State, 2003.

Count 2 read: “That you, Adeoye Olumide, on the aforesaid date, time and place in the Lagos Magisterial District did steal N20 million property of Wole Ogunremi.

The accused pleaded not guilty to the charges and the presiding magistrate, Mrs. Aigbokhaevbo, granted him bail in the sum of N1million with two sureties in like sum who must produce evidence of tax payment to the Lagos State government.

She adjourned the matter to 29 November, 2011.

The accused was moved to the Ikoyi Prison when he could not meet his bail conditions before the court closed for the day.

—Paul Iyoghojie