Businessman lands in prison for allegedly defrauding customer of N129.9m

Ikoyi correctional centre

Ikoyi Correctional Centre

By Paul Iyoghojie

A Lagos businessman, Sodiq Adamu, 44, has been arrested by the Police at the Zone 2 Command, Lagos and charged before a Lagos Magistrate’s Court for allegedly obtaining the sum of N129,900,000 from a complaint, Abdulazeez Imam under false pretence.

Police alleged that the defendant allegedly obtained the money from the complainant with the pretext to use it to purchase the sum of $150,000 dollars for him but that the defendant failed to purchase the dollars and instead converted the N129.9m to his personal use and fled.

Police further alleged that following the development, the complainant petitioned the Assistant Inspector General of Police, AIG in charge of Zone 2 Command, Lagos, AIG Durosimi Olatoye who swiftly directed his crack team to hunt down the fleeing suspect.

The Police teams tracked the defendant to a hideout in Lagos after months of intelligence gathering and arrested him.

The defendant was charged before the Igbosere Magistrate’s Court sitting at the Ebute-Metta Magistrate’s Court, Lagos on a three-count charge bordering on obtaining money by false pretence, stealing and conduct likely to cause breach of peace.

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Police prosecuting Counsel, ASP Francis Igbinosa told the Court in the charge marked D/15/2024 that the defendant committed the offence on 31 July 2023 at Victoria Island, Lagos

Igbinosa informed the court that the defendant with intent to defraud obtained the sum of N129,900,000 from the complainant with the promise to use the money to purchase the sum of $150,000 dollars for him but that the defendant failed to purchase the dollars for the complainant and instead converted the money to his personal use and fled before he was tracked and arrested.

Igbinosa said the offences, the defendant committed were punishable under sections 314, 287 and 168(d) of the Criminal Law of Lagos State, 2015.

The defendant, however, pleaded not guilty to the charges and Magistrate, Mrs Erinle granted him N5m bail with two sureties in like sum

Magistrate Erinle adjourned the case till 26 June 2024 for mention and ordered that the defendant be detained at the Ikoyi correctional facility till he perfected the bail conditions.

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