A 33 years old businessman, Augustine Oshoke has been arrested and arraigned before a Lagos Magistrate Court for allegedly obtaining the sum of N70m from Hassan Muritala under false pretense.
The accused was arrested by the operatives of the Force Criminal Investigation and Intelligence Department, FCIID, Alagbon, Ikoyi, Lagos and charged before an Igbosere Magistrate Court on a two-count charge of felony to wit, obtaining money under false pretence and fraud.
Police Counsel, Henry Obiazi informed the court in charge No A/25/2018 that the accused committed the offence in December 2017 in Agage, Lagos.
Obiazi told the court that the accused connived with others still at large to tricked and collected the sum of N70m from Muritala with a promise to exchange the Naira with the sum of $283,000 equivalent.
Obiazi stated that after the accused collected the M70m from the complainant, he converted the money to his use and failed to provide the dollars equivalent to the complainant to date.
He said the offences the accused committed were punishable under sections 411 and 314 (3) of the Criminal Laws of Lagos State, 2015.
The accused pleaded not guilty to the charges in the open court and Chief Magistrate O.O Oshin granted him bail In the sum of N500,000 with two sureties in like sum.
Oshin adjourned the case till 2 May 2018 for the mention and ordered that the defendant be kept at Ikoyi Prison, Lagos till he perfected the bail conditions.