According to reports, the police have arrested a man, Olatunji David, for allegedly obtaining N5.5 million from a businessman under the pretence of supplying him with raw cashew nuts.
The Zone Two Police Command, Onikan, Lagos arraigned David, 46, Monday before Mr. W. B Balogun of an Igbosere Magistrates’ Court, Lagos.
The defendant, whose residential address was not given, is standing trial on a three-count charge of conspiracy, fraud, stealing and conversion.
Prosecuting Supol Eshiet Eshiet told the court that the defendant and his alleged accomplice who is at large committed the offences sometime last March, in Lekki area of Lagos State.
Eshiet alleged that the defendant “obtained the sum of N5.5 million from one Bello Osagie-Teslim under pretence of supplying him raw cashew nuts, a representation he knew to be false.”
“The defendant dishonestly converted the said sum to his personal use in order to permanently deprive the complainant of his property.”
The offences, he added, contravened Sections 409, 312 (1) (a) and were punishable under Sections 312 (3), 278 (1) (a) (2) (a) and 285 (1) of the Criminal Laws of Lagos State, 2011.
The defendant pleaded not guilty.
Magistrate Balogun granted him N2 million bail with two sureties in the like sum who must be gainfully employed in a limited liability company and provide evidence of tax payment.
The case was adjourned till October 21.