Businessman docked over N11m fraud

A 45-year-old businessman, Dada Alaba, was on arraigned in an Ejigbo Magistrates’ Court, Lagos, for allegedly obtaining the sum of N11 million under false pretences.

Alaba, whose residential address was not provided, is standing trial on a three-count charge of conspiracy, stealing and fraud, preferred against him by the police.

The Prosecutor, ASP Benedict Aigbokhan, told the court that the defendant committed the offences sometime in November 2023, at Unity Estate, Egbeda, Lagos.

He said that the defendant fraudulently obtained the sum of N11 million from the complainant, Mr Oyedepo Olamilekan, under the guise of investing the money in a business.

“The defendant did not invest the money, but converted it to his personal use,” Aigbokhan said.

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According to him, the offences contravened Sections 287, 314 and 411 of the Criminal Law of Lagos, 2015.

The defendant pleaded not guilty to the charge.

The Magistrate, Miss K. A. Ariyo, granted him bail in the sum of N1 million with two sureties in like sum.

She ordered that the sureties should be gainfully employed and they should also show evidence of tax payments to the Lagos State Government.

The magistrate adjourned the case until Aug. 30, for mention.