Insurance Agent Charged With N3m Fraud

The police at the Bar Beach Division, Victoria Island, Lagos State, Southwest Nigeria, have arrested an insurance agent for allegedly defrauding clients of American International Insurance Company, AIICO, of millions of naira.

He was arrested on 10 March, 2011 at AIICO office at Plot 12, Afribank Street, Victoria Island, Lagos.

The police disclosed that the suspect was arrested following a complaint lodged by the management of AIICO that he forged various documents to defraud four of its clients, Nwokeji Nwabueze, with receipt No.000191, Adedeji Caroline, with receipt No. 74212, Okewusi Funmilayo, with receipt No. 1374209, Gbenga Alonge, with receipt No. 1374104 and other clients to the tune of N3 million.

During interrogation, the suepect allegedly confessed to the crime and was charged before the Igbosere Magistrate’s Court on a three-count charge of forgery, fraud and stealing, offences punishable under Sections 516, 467 and 390 of the Criminal Code, Cap.17, Vol. 11, Laws of Lagos State of Nigeria, 2004.

The accused pleaded not guilty to the charge when it was read to him and the presiding magistrate granted him bail in the sum of N300,000 with two sureties in like sum.

The matter has been adjourned till 29 April, 2011.

—Paul Iyoghojie