A 63-year-old man, Olajide Dauda and Olalekan Isaac, 25, on Wednesday, arraigned before an Ile-Ife Magistrates' Court for alleged over N5M million fraud.
The Prosecutor, Insp. Jimoh Irewole, told the court that the defendants committed the offence on Sept. 25, 2024 around 2:30 pm at Akinola Road, New Town Avenue, Ipetumodu in Ife North Local Government Area of Osun.
Irewole said that the defendant conspired with each other to commit felony to wit: stealing.
He added that the defendants fraudulently obtained the sum of N5,175,000 from one Akinware Jacob with pretense to sell two plots of land for him beside Ife North Local Government Secretariat, Ipetumodu.
According to him, the defendants fraudulently converted the sum of N5,175,000 of Akinware Jacob to their own use.
The Prosecutor said that the offence was contrary to section 383, and punishable under sections 390(9), 419 and 516 of the Criminal Code, Laws of Osun, 2002.
The defendant, however, pleaded not guilty to three-count charge of conspiracy, fraud and wrong conversion.
The Defense Counsel, Mr Martins Awe and Mr Leke Dada, respectively pleaded for the bail of their clients, promised that they would not jump bail, but would provide responsible sureties.
Magistrate O.B. Adeduwura granted the bail of the defendants in the sum of N2 million with two sureties in the sum.
Adeduwura said that the sureties must swear to affidavit of means, resides within the court jurisdiction, their addresses to be verified by the Prosecutor.
She added that the sureties must produce three years tax clearance certificate, one of them must be landed property owner with three recent passport photographs of defendants and the sureties.
The case was adjourned until Feb 3 for mention at Ipetumodu Magistrates' Court.
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