Court Remands Man Over N166M Fraud

By Oluwapelumi Fasoyin

A 35-year old Adeyemi Ajiboye has been remanded in Ilesha prison custody by an Osogbo Magistrate court over fraudulent activities.

The charge sheet disclosed that the accused person obtained the sum of N166,410,000 from one Azeez Razaq and others that he would use the money to invest into palm kernel which he (suspect) knew to be false, thereby committed an offence contrary to and punishable under section 419 of the criminal code law of Osun State 2003.

It further disclosed that the accused person fraudulently stole and converted the property of Azeez Razaq that worth N166,410,000 to his own use and thereby committed an offence contrary to and punishable under section 390(9) of the state penal code.

The accused person committed the offence sometimes in November 2017 at Osogbo.

The suspect pleaded not guilty to the two count charge leveled against him.

His defense counsel, prayed the court to grant his client bail in the most liberal terms in accordance with the 1999 constitution of the Federal Constitution of Nigeria.

The police prosecutor, opposed the bail application of the accused person, saying over 50 petitions have been written against him concerning the issue of fraud.

He also argued that the accused is a serial bail non-compliant.

The presiding Magistrate, Aisha Oloyade remanded the suspect in Ilesha prison custody till the next day of hearing.