Businessman faces N8.4m fraud charge

Businessman faces N8.4m fraud charge

A 26-year-old businessman, Bassey Ubong, who allegedly obtained N8.4 million under false pretences, was on Friday charged before a Yaba Chief Magistrates’ Court in Lagos.

Ubong, whose address is unknown, pleaded not guilty to a two-count charge of obtaining under false pretences and stealing.

The Prosecutor, Cpl. Ibijoke Akinpelu, told the court that Ubong committed the offences between Jan. 10, 2014 and Aug. 24, 2014 at Ecobank, Unilag Branch, Lagos.

She said that the accused had deliberately persuaded the complainant, Okusanya Olugbenga, to partner with him in a Palm oil business, which he knew was not plausible.

Akinpelu said after Ubong fraudulently obtained N8.4 million from Olugbenga in 2014, he had been on the run, and was only apprehended recently by the police.

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According to the prosecutor, the offences contravene Sections 285 and 312 of the Criminal Law of Lagos State, 2011.

The News Agency of Nigeria (NAN) reports that Section 312 recommends a 15-year jail term for false pretences, while Section 285 prescribes three years for stealing.

The Chief Magistrate, Mrs A.F. Adeeyo, granted the accused bail in the sum of N2million, with two sureties in like sum.

She ordered that one of the sureties must be a property owner with evidence of land use charge payment.

Adeeyo adjourned the case until May 11 for substantive trial. (NAN)

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