Oil Marketer Charged With N9.2m Fraud

An oil marketer, Adetoye Adeoye Akindele, has been arraigned before an Igboseere Chief Magistrate’s Court, Lagos, on charges bordering on conspiracy, and obtaining the sum of N9.2 million, under false pretence.

The 56 years old, oil marketer according to the police,in charge number C/17/18, committed the offence sometimes in the month of August 2016, at 13, Compassionate street. Idowu Egba, area of Lagos.

The accused and others now at large, were alleged of fraudulently obtained the mentioned amount from one Noel Tiemo, under the pretence of supplying him petroleum products.

During the arraignment of the accused on Friday, the prosecutor, Barrister Morufu Animashaun, told the court that the accused and others now at large, with intent to defraud, sometimes in August, 2016, approached one Noel Tiemo, and obtained the sum of N9.2 million from him, with a promised to supply him petroleum products.

The prosecutor however told the court that the accused and his cohorts, after collecting the money, failed and refused to supply the product as promised.

The prosecutor told the court that the offences committed by the accused are contrary to and punishable under sections 411, 314 (3), and 285(5) (a) of the criminal laws of Lagos state, 2015.

The accused however pleaded not guilty to the charges.

Lawyer to the accused, Mustapha Daisi, while urging the court to admit his  client bail, said the accused will always present in court to attend the trial. Adding that his client will not interfere with witness in the matter.

But the prosecutor, while opposing the bail application, told the court that it took police several months before the accused could be apprehended. Adding that if granted bail, it may be difficult for the police to arrest other members of the syndicate.

Admitting bail to the accused, the presiding magistrate, Mrs. Abimbola Komolafe, granted him bail in the sum of N5 million with two sureties.

Komolafe also ordered that the sureties who must be residing within Lagos state, must also show to court evidence of three year tax paid to the Lagos state government.

The magistrate, while adjourned the matter till March 20, for trial, ordered that the accused be remanded in prisons custody, pending the perfection of the bail terms.