A 40-year-old man, Adepoju Olalekan, was arraigned by the Osun state police command, Monday, for allegedly defrauding 186 people to the tune of N45,293,916.
The defendant was arraigned before a Magistrates’ court sitting in Osogbo, Osun state capital.
The police prosecutor, Fagboyinbo Abiodun, alleged that Olalekan conspired with First bank officials, standing as a middle man, to acquire loan for 186 persons, with intent to defraud.
Prosecution told the court that the defendant committed the alleged offence between year 2012 and July 2015 in Osogbo.
“That you Adepoju Taofeeq Olalekan and others now at large, did by false pretence and with intent to defraud, obtain the sum of N45,293,916 from 186 persons staffs of Irepodun Local Government Area of Osun State with the pretence of repaying loans you secured for them from First Bankof Nigeria, a pretence you know to be false and thereby committed an offence.
The defendant pleaded not guilty to the four count charges bothering on conspiracy, fraud and stealing preferred against him.
Counsel to the defendant, S. P. Ogundari, urged the court to grant his client bail in the most liberal term, noting that the defendant is still presumed innocent.
The Magistrate, Modupe Awodele, granted the defendant bail in the sum of N10million with two sureties in like sum.
The Magistrate said one of the sureties must be a civil servants not below level 15, and thereby adjourned the case to February 9, 2021.
