Businessman sent to prison over alleged N42m fraud

A 42-year old businessman, Joshua Alele Momodu has been ordered remanded at the Ikoyi Correctional Facility, Ikoyi, Lagos pending when he will be able to perfect the bail conditions granted him by an Igbosere Chief Magistrates’ Court for allegedly obtaining the sum of N42 million from the management of Adeeman Nigeria Limited under false preference.

The order was handed down by Magistrate Alogba when the defendant could not perfect the bail conditions before court closed proceedings for the day.

The defendant was arrested by the operatives of the Police Special Fraud Unit, PSFU, at Ikoyi, Lagos and after investigation by a team led by Inspector John Ayewa.

The defendant was charged before the Igbosere Chief Magistrates’ Court on a five count charges bordering on
obtaining money under false pretence, forgery and stealing.

Police counsel, J.I Enang told the court in charge No. A/03/2020 that the defendant committed the alleged offence in August, 2019 in Lagos.

Enang informed the count that the defendant collected the sum of N42 million from the management of Adeeman Nigeria Limited with the pretext to deliver 20, 000 MT of NNPC Approved Automated Gas Oil (AGO to its AITEO Tank Farm, but that the defendant instead converted the money to his personal use and failed to supply the AGO Oil to the complainant till date.

He said that the defendant perpetrated the alleged fraud by forging customs document, notice of readiness, ETA, contract documents using NNPC shells/AGIP Logo.

He added that the offences, the defendant committed were punishable under sections 411, 314, 280, 285, 363, 365 and 370 of the criminal laws of Lagos State, 2015.

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