A 27-year-old businessman, John Kolawole, on Thursday appeared before an Ejigbo Magistrates’ Court, Lagos, for allegedly obtaining N2.5 million from a business partner under false pretences.
Kolawole, whose residential address was not provided, is standing trial on a two-count charge of fraud and stealing.
The prosecutor, Insp Benedict Aigbokhan, told the court that the defendant committed the offences on March 28 at Morning Star Street, Ejigbo, Lagos.
He said that the defendant fraudulently obtained the sum of N2.5 million from his business partner, Mr Joshua Akosile, under the guise of doing business with the money but failed to do so.
The prosecutor said that the defendant converted the said money to his personal use.
He said the offences contravened Sections 287 and 314 of the Criminal Law of Lagos State, 2015.
The defendant denied the charge.
The Magistrate, Mr E.O. Ogunkanmi, granted the defendant bail in the sum of N1 million with two sureties in like sum.
Ogunkanmi ordered that the sureties must be gainfully employed and show evidence of tax payment to the Lagos State Government.
He adjourned the case until Oct. 4 for mention.
