Businessman appears in court for N1.5m fraud

By Jeleel Olawale

A 40-year-old man, Olagunju Oluwatosin, on Thursday, appeared before an Ile-Ife Magistrates’ Court for N1.5 million business fraud.

The Prosecutor, Insp Adesina Elijah, told the court that the defendant committed the offence sometime in July, 2023, around 02:00 pm at Falolu Area, off Ifewara Road, Kosere, Ile-Ife.

Elijah said that the defendant maliciously broke and breach a contract between him and one Owojori Lawrence by obtaining the sum of N3 million from him and failed to delivered the sum of N1.5 million to him.

He adding that the defendant fraudulently cheated one Owojori Lawrence with sum of N1.5million when he failed to delivered to him from July 10, 2023 till date.

According to him, the offence contravened sections 305 A(2) and 421 of the Criminal Code, Laws of Osun, 2002.

The defendant, however, pleaded not guilty to two-count charge of fraud and breach of contract.

The Defence Counsel, Mr Akin Akinboyowa, who applied for the bail of the defendant in most liberal terms, promised that his client would not jump bail, but would provide reliable sureties.

Magistrate O. T. Badmus granted the bail of the defendant in the sum N500,000 with two sureties in like sum.

Badmus said that the sureties must swear to affidavit of means, reside within the court jurisdiction, definite addresses to be verified by the police.

He adding that one of the sureties must be a tax payer with three years tax clearance certificate, while the second surety must be an owner of landed property that N5 million.

According to him, the land owner must deposit the original document with the court official, otherwise must deposit N300,000 cash with court official as well as deposit means of identification.

In interim, he ordered for the remand of the defendant in Ile-Ife Nigerian Correctional custody, pending the perfection of his bail.

The case was adjourned until Nov 23 for hearing.