Man, 40, Arrested For Swindling DAMA Pharmaceutical Company N20m 

P.M.EXPRESS reports that the incident happened at Iju Road, Ifako Ijaiye area of Lagos, where the company is located.

According to Police sources, the company contacted Tayo to supply them 750 KVA3310415KVA transformer for the factory and paid the money to his account.

However, having obtained the money, he bolted away and disconnected every communication he had with the company.

For several months after the period he gave the company that he will supply the transformer had elapsed, he was unable to do so.

The matter was reported to the Police and he was trailed. He was eventually arrested and detained at the Command for interrogation over his criminal conduct.

During interrogation, the Police asked him to refund the money since he was unable to supply the transformer but he said he had no money to pay the company because he had spent the whole money.

The Police therefore, found him culpable and subsequently charged him before the Ogba Magistrates Court for fraud.

He pleaded not guilty before the Court when he was arraigned.

Hence, the prosecutor, Ajayi Emmanuel, 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. A.A. Adetunji, granted him bail and ordered his remand in the Correctional Centre at Kirikiri town, Lagos, pending when he will perfect his bail conditions while the matter was adjourned for mention.