22-year-old docked over alleged N9m fraud

22-year-old Emmanuel Alade was on Monday brought before an Iyaganku Magistrates’ Court, Ibadan, over alleged N9, 747, 050 network data fraud.

Alade, whose address was not provided, was charged with conspiracy and stealing.

He, however, pleaded not guilty to the fraud charges preferred against him.

The prosecutor, ASP Anthony Igori, told the court that the defendant committed the offences between January and July, at Badeku area, Ibadan.

Igori said that the defendant unlawfully hacked into the account of an online recharge card network company in Ibadan called ‘Yafun Yafun.

The prosecutor explained that the defendant unlawfully gained access to the company’s secured online private platform, where he proceeded to steal a substantial number of MTN, Glo, and Airtel recharge cards. This illegal access enabled the defendant to wrongfully appropriate these telecommunications cards, causing significant losses to the company.

Furthermore, the prosecutor revealed that in addition to stealing the recharge cards, the defendant exploited the company’s valuable data, using it without authorization. The data, which had a calculated worth of N9,747,050, was illicitly accessed and utilized for personal gain, further exacerbating the financial damage done to the company.

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According to the prosecutor, these acts of theft and unauthorized access violated the provisions of Sections 517 and 390(9) of the Criminal Laws of Oyo State, 2000. These sections clearly outline the legal penalties for conspiracy and theft, both of which the defendant is accused of committing during the course of his actions.

Presiding over the case, Magistrate Olaolu Olanipekun decided to grant the defendant bail, setting the bail amount at N1 million. As part of the bail conditions, the defendant must also provide two sureties, each of whom must agree to stand for the same amount of N1 million, thereby guaranteeing the defendant’s appearance in court as required.

Magistrate Olanipekun then adjourned the case, scheduling the next hearing for November 26. During this hearing, further evidence and arguments will be presented, allowing the court to continue its examination of the charges and the defense.