Court remands businessman charged over N14.7m fraud
By Onyewuchi Ojinnaka
A Federal High Court sitting in Lagos has ordered the remand of a businessman charged over alleged N14.7 million fraud.
The defendant, Abdullahi Mohammed, was arraigned before Justice Ambrose Lewis Allagoa, on a three-counts charge by the Police Special Fraud Unit Ikoyi over alleged offences bordering on conspiracy and cybercrime to the tune of N14.7 million.
When the charge was read to him , he pleaded not guilty to the three counts charge.
The prosecutor, Mr Justine Enang, told the court that the defendant committed the offence in June, within the jurisdiction of Lagos division.
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He alleged that the defendant conspired with others now at lar
He alleged that the defendant conspired with others now at large, with intent to defraud, to obtain the sum of N14.7 million
The defendant was alleged to have knowingly caused financial loss to Patrallax Bank Ltd, by suppressing credit entries and other data held in a Pont of Sale (POS) Machine.
He was alleged to have done so in his capacity as an agent of the bank., and had directly or indirectly taken possession of funds belonging to the bank.
The prosecutor submitted that the defendant ought to have known that the funds formed part of proceeds of illicit act.
The offence contravenes the provisions of Section 14(1) and 18(3) of the Cybercrime Act 2015 as amended in 2024.
The court has adjourned the case until November 19 for hearing of the bail application and ordered that the defendant be remanded in the Nigerian Correctional Services, Ikoyi.