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A 34-year-old businessman, Olayinka Alade, on Thursday appeared before an Ikeja Chief Magistrates’ Court for allegedly defrauding an online company of N8.8 million.
Alade, who resides at 17, Bashiru Owen St., Ikeja, is facing a three-count charge of conspiracy, stealing and fraud.
He however pleaded not guilty to the charge.
The prosecutor, ASP Raji Akeem, told the court that the defendant committed the offences in July at 1, Surulere Avenue, Ogba, Lagos.
Akeem said that the defendant, partnered an online company, Jumia, and collected 935 pieces of assorted cell phones valued N8.8 million, but failed to remit proceeds from the sales.
He said that the defendant converted the money to his personal use.
Akeem said that the offences contravened Sections 411 and 287 of the Criminal Law of Lagos, 2015.
The Chief Magistrate, Mr O. A Adelaja granted the defendant bail in the sum of N5 million with two sureties in like sum.
Adelaja adjourned the case till Aug. 27, for mention.
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