EFCC DOCKS MAN FOR N16M FRAUD.{PHOTO}.

      The Economic and Financial Crimes Commission, EFCC, Ibadan zonal office on Monday, January 22, 2018 arraigned one Oladipo Olutope before Justice M. L. Owolabi of the State High Court sitting in Iyaganku, Ibadan, Oyo State, on a 4-count charge of fraud.
Oladipo allegedly sometimes in May 2015, lured a complainant who is based abroad into investing in a phony business.He allegedly leveraged on his position as a spiritual adviser to the victim, to deceive him to make some investments in Nigeria, while promising to manage the business for him pending his return to Nigeria. It was further alleged that between 2015 to 2016, the victim sent a sum of N16,050,000 (Sixteen Million, Fifty Thousand Naira) to the defendant to buy a parcel of land in Ibadan; establish a Garri Processing Plant and buy a truck as well. But the defendant allegedly failed to carry out the investment plans, and converted the money to personal use.The offence contravenes Section 390 of the Criminal Code, Cap 38, Laws of Oyo State. 

Particulars of one of the charge read:

"That you, Oladipo Olutope between 2nd September, 2015 and 1st August, 2016 at Ibadan within the jurisdiction of this Honourable Court, converted to your personal use, the sum of N8, 000,000 (Eight Million Naira) property of one Yusuf Gbejami Lawal given to you to buy plot of land for him at Olodo Area in Ibadan and thereby commuted an offence.The defendant pleaded not guilty to the charge.

In view of his plea, prosecution counsel, Cosmas Ugwu prayed the court for a trial date and urged the court to remand the defendant in prison custody.Counsel to the defendant, A. Giwa, on the other hand, told the court that he had a pending bail application and prayed the court to admit his client to bail.Justice Owolabi adjourned to January 26, 2018 for hearing of the bail application and commencement of trial."The defendant is to be remanded in Agodi prison custody pending hearing of his bail application", the judge ordered.