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Odegbesan appeared before Magistrate O.Y. Adefope at the Chief Magistrate Court in Yaba on Monday, August 5, 2024, facing charges of conspiracy and theft.
The charges against Odegbesan stem from incidents between June 2023 and February 2024 at Betty Distribution Company in Ajangbadi, Lagos.
Odegbesan is accused of conspiring with store attendant Sheriff Aminat to steal products worth ₦4,431,300.
The theft came to light on February 6, 2024, following an audit by the company's Human Resource Manager.
It was discovered that goods were missing and that the corresponding funds had not been deposited into the company’s account.
Odegbesan allegedly obtained goods from the Okokomaiko branch without the manager's approval and failed to deliver them to customers.
After the initial report, Odegbesan was questioned, but a lack of immediate evidence led to further police investigations.
The subsequent probe uncovered sufficient evidence linking Odegbesan to the theft. He reportedly admitted his involvement and promised to return the stolen funds but did not follow through.
Prosecutor Haruna Magaji told the court that the alleged offenses violated Sections 411, 314, and 287 (a) (b) of the Criminal Laws of Lagos State 2015.
The complainant’s statement, along with evidence from the investigation, supported the case against Odegbesan.
Odegbesan has pleaded not guilty to the charges. Magistrate Nwaka has set bail at ₦4 million, with the requirement for four sureties residing in Lagos State.
Odegbesan will remain at the Ikoyi Correctional Centre until he meets the bail conditions.
The case is scheduled to resume on September 9, 2024.