Man in court over alleged N50m fraud

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A 35-year-old man, Abass Yaro-Lecky, who allegedly defrauded a businessman of N50 million on Friday, appeared in an Ikeja Chief Magistrates’ Court.

The police charged Yaro-Lecky, whose residential address was not provided, with four counts of conspiracy, stealing, forgery and obtaining money under false pretences.

He pleaded not guilty to the charge.

The prosecution counsel, Insp. Emmanuel Ajayi, alleged obtained N50 million from the complainant, Dr Tosin Adekunle, to facilitate purchase of Bonny Light Crude Oil, purportedly from  the NNPC.

Ajayi told the court that the defendant committed the offence with two others, at large between October 2017 and May 22, 2018 in Lagos.

He alleged the defendant also forged NNPC sales and purchase agreement for joint venture contract of sales, a representation he knows to be untrue.

Chief Magistrate S. A. Odunsanya admitted the defendant to bail in the sum of N500, 000 with two sureties in like sum.

Odusanya ordered that the sureties must be gainfully employed and must provide evidence of three years’ tax payment to the Lagos State Government.

The Magistrate adjourned the case until Oct. 15 for hearing.

Sections 287, 314 365(2)( b) and 411 of the Criminal Law of Lagos State 2015.

Obtaining money under false pretences is punishable with 15 years’ imprisonment, conspiracy, two years while forgery and stealing attract three years’ jail term respectively.