The Economic and Financial Crimes Commission (EFCC) on Tuesday arraigned a Lagos businessman, Tosin Ajetumobi, before an Ikeja High Court in Lagos for allegedly stealing N13.7 million.
Ajetumobi was arraigned before
Justice Olabisi Akinlade on a six-count charge of conspiracy, stealing and issuance of a dud cheque.
EFCC prosecutor Anselem Ozioko alleged that Ajetumobi, who is the Managing Director of Jaytee Brite Ltd, had on Feb. 11, 2008 with intent to defraud, conspired to commit felony by stealing money belonging to Gabosky Ventures Ltd.
Ozioko claimed the 48-year-old accused knowingly and fraudulently issued an Oceanic Bank Plc cheque number 08106269 dated Feb. 28, 2008 for the sum of N3 million to Gabosky.
He claimed that when the cheque was presented for payment, it was discovered that there were insufficient funds standing in the credit of the said account and the cheque was returned unpaid.
The prosecutor said the accused had borrowed the N13.7 million from Gabosky for his recharge card business, but allegedly issued the fake cheque after defaulting the repayment.
He said the alleged offence contravened Sections 390 (9) and 516 of the Criminal Code Law, Cap C17, Vol. II, Laws of Lagos State 2003.
“It also contravenes Section 1 (1) of the Dishonoured Cheques (Offences) Act, Cap D11, Laws of the Federation 2004,’’ the prosecutor added.
Ajetumobi, however, pleaded not guilty to the charge and was remanded at the Kirikiri Maximum Security Prison.
Akinlade adjourned the matter to Oct. 25 for hearing of Ajetumobi’s bail application.