Businessman Docked For Swindling Businesswoman Of N1.8b

A businessman, Oluwafemi Michael, has been arrested and charged before the Federal High Court in Lagos over his alleged involvement in swindling a woman, Danyan Amankop Udoh, to the tune of N1.8b under false pretence.

P.M.EXPRESS reports that the defendant,

Michael, was arraigned before Justice Peter Lifu on a nine-count charge of conspiracy, fraud and obtaining money by false pretence filed against him by the Police.

The Prosecuting Police Officer, Chukwu Agwu, told the Court that the defendant committed the alleged offences between January 2020 and May 2022 in Lagos State.

Agwu claimed that the defendant, through his Guaranty Trust Bank Plc account number: 0164536253, Zenith Bank Plc Account Number: 2179082711, First Bank Of Nigeria Plc account numbers: 3062256110 and 2042628891 fraudulently obtained from the victim under the guise to invest same in interest yielding businesses, which he knowingly or reasonably ought to know that such fund is, or forms part of the proceeds of an unlawful act.

He further stated that the offences are contrary to Section 18 (2) (b) and punishable under Section 18 (3) of the Money Laundering (Prevention and Prohibitions) Act, 2022.

However, he pleaded not guilty when he was arraigned.

The defence counsel, John Atawodi, apologised for not filing a written application for bail but urged the Court to allow him to move his oral application.

But the prosecutor, Agwu, opposed the application, arguing that the defendant has placed nothing before the Court to persuade it to entertain an oral bail application.

However, Justice Peter Lifu held that the Court has inherent jurisdiction to adjudicate criminal matters and held that bail is a constitutional right guaranteed under Section 36 of the 1999 code.

“I have considered that the defendant has been in custody for more than 40 days without trial for a bailable offence. I have decided to consider the defendant’s liberty at this pre-trial stage.”

“In that wise, I have advised myself by the principle of precedence and legal authorities. I hereby admit the defendant to bail in the following terms and conditions:

“N100 million and two sureties in the like sum. The two sureties must swear affidavit of means and attach photographs of themselves and that of the defendant.”

The matter was adjourned for mention while the defendant was remanded in custody pending when he will perfect his bail conditions.