Businessman in court over alleged N5m fraud

A 29-year-old man who allegedly obtained N5 million from a trader on the pretext of supplying cosmetics to him was on Monday brought before an Ojo Magistrates’ Court, Lagos. Chidubem Muoghalu, a resident of Ojo area of Lagos, is facing a three-count charge of conspiracy, obtaining money under false pretences and stealing.

The Prosecutor, Insp. Simon Uche, told the court that the accused committed the offences sometime in the month of June 2015 at Trade Fair Complex along Badagry Expressway, Lagos. He said that Muoghalu, and others now at large, collected N5 million from one Emeka Ikedinobi with a promise to supply cosmetics to him, a representation which they knew was false.

“Muoghalu and his accomplices, who had no intention of supplying goods to the complainant, invested the money in their own personal business and started avoiding the complainant. “Ikedinobi said that when he did not get any feedback from the accused, he decided to ask for a refund.

“The complainant said that the accused started giving excuses and refused to pay his money back when asked to do so,” Uche said. The prosecutor said that the offences contravened Sections 285 and 312 of the Criminal Law of Lagos State, 2011. The News Agency of Nigeria (NAN) reports that Section 312 prescribes a 15-year jail term for obtaining money under false pretences.

The accused, however, pleaded not guilty to the charges. The Magistrate, Mr A.A. Paul, granted the accused bail in the sum of N500,000, with two sureties in like sum. Paul said the sureties must be gainfully employed and also show evidence of three years’ tax payment to the Lagos State Government. He adjourned the case till Dec. 12 for mention.