Bizman Docked Over Alleged N1.7m Fraud

A businessman, Taiwo
Akanbi, on Thursday appeared before an Oshodi Magistrates’ Court, Lagos, charged with a N1.7million fraud.
Akanbi, 42, a resident of No. 39, Adejobi St., Agege, Lagos, is standing trial on a two-count charge of fraud and stealing.
The Prosecutor, Cpl. Kehinde Olatunde, told the court that the accused committed the offences sometime in July 2010 at No. 12, Industrial Ave., Ilupeju, Lagos.
He said that Akanbi, the proprietor of Twin Aluminium ProductsLtd., fraudulently collected the sum of N1.7million from one Mr Kolawole Olatunbosun, on the pretext of supplying him aluminium doors and windows.
“The accused was given a contract of N1.7 million to supply and fix aluminium doors and windows in the complainant’s new site in Lekki, Lagos
“Since the accused collected the money, he converted it to his personal use and refused to do the job’’.
Olatunde said that whenever the complainant called the accused on phone, he would not pick his calls.
“But when the complainant used another number to call him, he picked it and would give one excuse or another as to why he had not done the job.
“All efforts made by the complainant since 2010 to recover his money had proved abortive,” he said.
Olatunde said that the offence contravened Sections 285 and 312 of the Criminal Law of Lagos State, 2011.
The accused, however, pleaded not guilty to the charge when it was read to him.
Section 312 provides a penalty of 15 years imprisonment for the offence of obtaining by false pretence or fraud, while Section 285 prescribes a three years jail term for stealing.
The Magistrate, Mr Akeem Fashola, granted Akanbi bail in the sum of N100,000 with two sureties and adjourned the case to August 6 for mention.