Muyiwa Shoyomi, a businessman, has been remanded in Prison for fraud.
Shoyomi was sent to prison till he fulfilled the bail conditions granted him by an Igbosere Magistrate Court, Lagos for allegedly obtaining the sum of $241,500 equivalent to N103,818,000 from one Funke Adedeji under false pretence.
The accused was arrested by the operatives of the Force Criminal Investigation and Intelligence Department, FCIID, Alagbon Close, Ikoyi, Lagos and arraigned before the Court on a three-count charge of felony to wit, stealing and issuance of dud cheque.
Police Counsel, Friday Mameh informed the court in charge No C/28/2018 that the accused committed the offence in April, 2016 at Apapa, Lagos.
Mameh told the court that the accused and one Joseph Jegede now at large tricked the complainant and collected the sum $241.500 from her to invest in wood importation business with the promise to refund the money back to her with interest.
He said that after the accused collected the money from the complainant, he failed to fulfill the promise and instead converted the money to his use.
He said that the accused later issued three Diamond Bank cheques valued at N14.5m and two Standard Charered Bank chegues valued $9,500 to the complainant with the pretext of paying back the money, but that when the complainant presented the cheques before the banks for payment, it was rejected due to lack of funds in the account.
Mameh said the offences the accused committed were punishable under sections 411, 287 and 305 (1) of the Criminal Laws of Lagos State, 2011.
The accused, however, pleaded not guilty to the charges in the open court and Chief Magistrate A.A Adefulire granted him bail in the sum of N10m with two sureties in like sum who must have the sum of N2m each in their bank accounts.
Adefulire adjourned the case till 15 May, 2018 for mention and ordered that the defendant be kept at the Ikoyi Prison till he perfected the bail conditions.