Bizman Faces N3.3m Theft Charge

A self-acclaimed businessman, Olanite Folarin, who allegedly obtained N3.3 million under false pretences, was on Thursday docked at an Ikeja Magistrates’ Court.

Folarin of No. 4/5, Ajao Estate, Off Oluwalogbon Street, Ikosi- Ketu, Lagos State, is facing a three-count charge of conspiracy, fraud and stealing.

The prosecutor, Insp. Ezekiel Ayorinde, told the court that the accused defrauded the complainant, one Mr Alabede Olakunle, of N3.3 million

He said that in July, one Asumo introduced the accused to the complainant as a marketer who deals in diesel (AGO).

The complainant transferred N3.3 million through his Diamond Bank account number 0051358805 to the accused’s Guaranty Trust Bank account number 0157739560 to supply 33,000 litres of diesel.

“Folarin refused to supply the diesel and failed to return the money to the complainant.

The complainant later discovered that he had been defrauded when he realised that the product earlier shown to him belonged to someone else,’’ Ayorinde said.

The prosecutor said that the accused committed the offence with one other still at large on July 16, at about 1.30.p.m at Ijaiye-Ojokoro, Lagos State.

But he said that the accused was later apprehended by the police. Folarin, however, pleaded not guilty.

The prosecutor said that the offences contravened Sections 285, 312 and 409 of the Criminal Law of Lagos State, 2011.

Our correspondent reports that Section 285 prescribes three years’ imprisonment for offenders.

Chief Magistrate Omolade Awope granted the accused N1million bail with two sureties in like sum.

Awope adjourned the case to December 21, for mention.