A Federal High Court in Lagos on Monday remanded a Nigerian Olakunle Bello Shola and a twin Indian-Canadian citizen, Santosh Singh, following their arraignment for alleged N100.08m fraud.
Justice Oluremi Oguntoyinbo made the order after Lakunle 31 and Santosh 43, pleaded not responsible to a one-count cost of acquiring by false pretence, most popular in opposition to them by the Police Special Fraud Unit (PSFU) Ikoyi, Lagos.
She remanded the defendants within the Nigerian Correctional Services custody pending ruling on their bail purposes on November 4.
The prosecutor, Mr. Sylvester Azuibuike, alleged that the defendants and one Vivek Bansal, now at giant, with intent to defraud, obtained N100,08 million from a financial institution, via their firm, Continental Logistics Ltd.
They deceived the financial institution that the cash can be used to procure 240 metric tonnes of Sesame seed and 44.9 metric tonnes of cashew nuts, which have been to be saved at a warehouse in Kano State.
The court heard that the defendants allegedly falsely advised the financial institution the deal can be a tripartite settlement involving Continental Logistics Ltd, Thramaseed Inpex Ltd and the financial institution.
The offence, in accordance to the prosecutor, contravened Section 1(2) of the Advanced Fee Fraud and different associated Offences Act, 2006 and was punishable underneath Section 1(3) of the identical Act.
Following the defendants’ plea of not responsible, the prosecutor utilized for a trial date, whereas additionally praying the court to remand the defendants until the dedication of the cost in opposition to them.
But the defence workforce led by Mr Olalekan Ojo (SAN) opposed him.
Ojo advised the choose that the defendants had filed bail purposes and similar had been served on the prosecution.
He prayed the court to hear their purposes and admit the defendants to bail “in the most liberal terms.”
Justice Oguntoyinbo granted him depart to transfer the purposes, however reserved ruling until November 4.
She fastened December 11, for graduation of trial.
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