Men of the Police Special Fraud Unit (PSFU) Ikoyi, Lagos, have arraigned a businessman, Mr. Ibukun Gbadamosi, before a Federal High Court, in Lagos over alleged N45.5 million fraud.
Ibukun, who is a Group Managing Director (GMD) of J3 Holdings, was arraigned before the court presided over by Justice Tijjani Ringim on a three-count charge of conspiracy, obtaining by false pretence and fraud of the N45, 500, 000.00 million.
The prosecutor, Mr. Justine Enang, told the court that the defendant and others now at large, committed the alleged offences in Lagos, sometimes in 2019, while working as a staff of Crovation Limited.
Specifically, the prosecutor informed the court that the defendant fraudulently obtained the money from one Dr. Fabian Agbonzia, under false pretence that he had a property.
He told the court that as soon as the sum of N45.5 million was paid into his accounts (Access Bank Account No:0702662267 and GTBank Account No:0235285581), he diverted the money for his personal use, and failed and refused to give up the property.
He told the court that the offences committed by the defendant, contravened Section 8(a) and punishable under Section 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act 2006.
And Section 15(2) (b) of the Money Laundering (Prohibition) Act, 2011 as Amended in 2012.
The defendant, however, denied the allegations, and pleaded not guilty to the charges.
Following his not guilty plea, his Counsel, Mr. Gbade Olajide, while moving his bail application, urged the court to grant him bail in the most liberal terms and conditions.
While not opposing the application for bail, the prosecutor urged the court to admit the defendant bail in terms that will ensure his attendance in court.
Justice Ringim in his ruling, admitted bail to the defendant in the sum of N50 million with two sureties in like sum.
The judge also ordered that one of the sureties must be a Civil Servant on Grade Level 15 and above, or a director of registered company, while the order surety must be a landed property owner with Certificate of Occupancy (CofO).
The judge also ordered that both sureties must provide evidence of three months payment of utility bills, and means of identification.
Justice Ringim remanded the defendant in custody of the Nigerian Correctional Services (NCoS), till the perfection of his bail terms, and adjourned the matter till February 25, 2023, for trial.