Posted by By ADEKUNLE ADEYEMI and TORU OLUFUNLAYO on
A Lagos business woman, Josephine Oguamanam, her company, Fine Store Limited and a middle aged man, Sunday Oladoyin, were arraigned on Monday before a Lagos High Court sitting in Ikeji on 80-court charge over alleged role in N200 million fraud, belonging to Flour Mills Plc.
A Lagos business woman, Josephine Oguamanam, her company, Fine Store Limited and a middle aged man, Sunday Oladoyin, were arraigned on Monday before a Lagos High Court sitting in Ikeji on 80-court charge over alleged role in N200 million fraud, belonging to Flour Mills Plc.
According to the charge preferred against the three defendants before Justice Mafta in Olokooba by the Economic and Financial Crimes Commission (EFCC), both Oguamanam and Oladoyin used Fine Store Limited as conduct pipe to siphon goods worth N200 million out of Flour Mills in 2005.
However, one of the suspects in the alleged mega fraud Lanre Oketunde was still at large at the time his co-travellers were brought to the court.
According to the charge preferred against them, the defendants between December 2004 and May 2006 fraudulently converted large quantity of bags of flour from Flour Mills under the false pretense that the goods were paid for by fine Store Limited.
The alleged fraud, according to prosecution, was allegedly made possible through the connivance of Oladoyin who was in charge of operation of the account of Flour Mills number W10215673 dedicated for the transactions. The account number W10215673 used to perpetrate the fraud was according to the charge specifically entrusted into the care of Oladoyin and Oketunde by their employer to which they allegedly played Judas.
However, the defendants pleaded not guilty to the charge preferred against them and were subsequently granted bail by the court in the sum of N10 million each following application by their counsel, Fred Agbaje.
Apart from the N10 million bail sums, each of the defendants must also provide two sureties who must be landed property owner in Lagos. The sureties must also show evidence of payment of tax for the past three years.
Before adjourning the matter, the trial judge, reprimanded EFCC for unnecessarily expanding the charge, which could be compressed into just four count-charge.
'The count is unethical and should not be more than four count charge. It shall be sufficient to specify the gross sum stolen,' the court said.
The offence of conspiracy and stealing for which the defendants were charged with were contrary to sections 516 and 390 (6) and (b) of the criminal code cap C17, Vol2 laws of Lagos State Nigeria, 2003.
Meanwhile, Justice Olokooba has adjourned further trial to November 11, 2208.