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In Lagos Businessman docked over alleged N4.8m "Tokunbo" fraud

At his arraignment, the prosecutor Insp. Simon Imhonwa, told the court that the accused on July 23, 2013 obtained N4, 894, 355 from Oluwaseye Fadare, for the supply of an undisclosed number of used vehicles from the US.

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Businessman docked over alleged N4.8m "Tokunbo" fraud play

Businessman docked over alleged N4.8m "Tokunbo" fraud

(NGR Guardian News)

A 32-year-old businessman on Wednesday appeared before an Ikeja Chief Magistrates’ Court in Lagos for allegedly obtaining N4.8 million under the guise of supplying used vehicles.

The accused, William Oyeyemi, who resides at No. 14, Olabisi Naiwo Str., Ojodu, is facing a two count-charge of conspiracy and obtaining money by pretext.

At his arraignment, the prosecutor Insp. Simon Imhonwa, told the court that the accused on July 23, 2013 obtained N4, 894, 355 from Oluwaseye Fadare, for the supply of an undisclosed number of used vehicles from the US.

He said that Fadare approached the accused to help to purchase the vehicles following a recommendation by a mutual friend.

"Oyeyemi obtained the sum of N4, 894, 355 from Fadare and absconded.

"He neither supplied the vehicles nor returned the money since 2013,’’ Imhonwa said.

The prosecutor added that the accused had persistently threatened the life of the complainant whenever he was asked for the repayment.

Oyeyemi pleaded not guilty to the two-count charge preferred against him.

The offences contravene Sections 312 and 409 of the Criminal Law of Lagos State, 2011.

In her ruling the Magistrate, Mrs Bola Osunsanmi, granted the accused bail in the sum of N200, 000.00, with two sureties in like sum and adjourned the case to Jan. 21, 2016 for further hearing.

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