Home News Businessman, 40, docked over alleged N15m fraud

Businessman, 40, docked over alleged N15m fraud


LAGOS – A businessman, Efiong Ekwere, was on Wednesday charged before a Yaba Magistrates’ Court in Lagos for allegedly obtaining the sum of N15 million under the pretext of supplying one million barrels of crude oil.
Ekwere, 40, who resides at No. 6, Okonga Road, Ada George, Port Harcourt, is standing trial on a four-count charge of obtaining by false pretences, conspiracy, issuance of a dishonoured cheque and stealing.
The prosecutor, Insp. Chris Takim, told the court that the accused and others still at large, fraudulently obtained the sum of N15 million from one Michael Olisah on Nov. 22, 2013 at No. 9, Osolo Way, Ajao Estate, in Lagos State.
Takim alleged that the accused falsely presented himself as a dealer in crude oil and promised the complainant, Olisah, that N15 million would take care of logistics from NNPC Bonny Terminal in Rivers.
He submitted that Ekwere issued a Diamond Bank cheque, No 0027350109 dated Dec. 21, 2013, for the sum of N15 million when he could not meet up with to the date he promised to supply the product.
The prosecutor said that when the complainant presented the cheque at the bank for payment, the bank did not honour it for insufficient funds and all efforts by the complainant to reach the accused were unsuccessful.
The prosecutor said that the offences contravened Sections 285, 312, 319 and 409 of the Criminal Law of Lagos State, 2011.
The accused, however, pleaded not guilty to the charge.
The magistrate, Mrs Bola Folarin-Williams, granted the accused bail in the sum of N200,000 with two sureties in like sum .
Folarin-Williams said that the sureties must own property in Lagos.
She, then, adjourned the case till Jan. 20, for trial. (NAN)

Previous articleCourt remands 2 in prison for alleged manslaughter
Next articleLugbe has the highest HIV prevalence in FCT— NACA

Leave a Reply