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Businessman Loses N8 Million To Partner

Posted by By Cyriacus Izuekwe on 2008/09/10 | Views: 1641 |

Businessman Loses N8 Million To Partner


A 26-year-old businessman has been arrested by the police at Okota, Lagos, for allegedly defrauding his business partner of N8.2 million.

A 26-year-old businessman has been arrested by the police at Okota, Lagos, for allegedly defrauding his business partner of N8.2 million.

The suspect, Daniel Uchechukwu Eze, an indigene of Abia State, was said to have conspired with his accomplice, Ngozi Ukpabi, now at large, and defrauded a businessman (names withheld) on the pretence of supplying him goods for the said amount.

P.M.News gathered that Eze, whose office is located at 20, NNPC Road, Jakande Estate, Isolo, was approached by the victim to supply him raw materials for the production of undisclosed goods and paid him the said amount up front.

Instead of supplying him the goods, the suspect allegedly packed sand into bags and supply them to the complainant, it was learnt.

On inspection, the complainant discovered that the bags supplied were full of sand and quickly reported the matter to the police. The suspect was arrested and charged before the Isolo Magistrate’s Court for stealing. The offence is punishable under sections 516, 421, 390 of the Criminal Code, Cap.C.38, Vol. 2, Laws of Lagos State of Nigeria, 2004.

He pleaded not guilty to the charge and was granted bail in the sum of N500,000 with two sureties. The court also ordered that the sureties must deposit N100,000 and one must be a blood relation of the accused and their addresses must be verified by the court. The matter has been adjourned till 7, October, 2008, for mentioning. The accused was remanded in prison custody at Apapa, because he could not fulfill the bail conditions.

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