Man, 48, Docked For Issuing Dud Cheque After Borrowing N10m
Posted on September 4, 2023
MICHAEL AKINOLA
A 48-year old man, Olayade Olanrewaju Olufemi, has been arrested and charged in Lagos State for allegedly swindling a financial company by issuing them a dud cheque after obtaining N10m loan.
P.M.EXPRESS reports that the incident happened at Momisma Olive Investment at Olaniyi Street, New Oko-Oba area of Agege, Lagos, where the company is located.
According to the Police, the suspect went to the company and asked for a loan to the tune of said amount under the false pretence of using the money for a business transaction and promised to return it within a specific period.
However, Olufemi borrowed the money, bolted away and did not return the money including the interest as he had promised to do when he obtained the loan.
When it was time for him to refund the money, he was contacted and he deliberately issued the company’s management a Zenith Bank Cheque with serial number 0094332814 and bolted away.
The whole scam got exposed when the management went to the bank to cash the cheque and the bank told the management that Olufemi had no such money in the account.
The matter was reported to the Police at Area G Command, Ogba and the Police trailed him. He was eventually arrested and detained at the Command for interrogation over his alleged conduct.
During interrogation, Olufemi told the Police that he knew there was no money in his account and had no money to refund the company because he had spent the whole money on other purposes.
The Police found him culpable and subsequently charged him before the Ogba Magistrate Court for conspiracy and obtaining under false pretence.
However, he pleaded not guilty when he was arraigned.
The prosecutor, Inspector Lucky Ihiehie, then asked the Court to give a date for hearing since he pleaded not guilty to enable the Police to prove that he actually committed the alleged offence.
The Presiding Magistrate, Mrs. O.A. Layinka, granted him bail in the sum of N1m with two sureties in like sum, who must show evidence of means of livelihood and tax payment.
The matter was adjourned for mention while the defendant was remanded in custody at the Correctional Centre at Kirikiri town, Lagos, pending when he will perfect his bail conditions.
