A 37-year-old businessman, Damilola Mathew, was on Wednesday brought before a Yaba Chief Magistrates’ Court, Lagos, over alleged N3.7m car fraud.
Matthew, a resident of Ketu area of Lagos, is facing three counts of conspiracy, obtaining by false pretences and theft.
He, however, pleaded not guilty to the charge.
The Police Prosecutor, ASP Rita Momah, told the court that the defendant who committed the offences on Oct. 10, 2020, at No. 22, Take St. Ikosi area of Ketu, Lagos, defrauded a man of N3.7million on the pretext of buying him a car.
She said that the defendant was paid N3.7million by the Complainant, Mr Afeez Ayinde, in order to buy him a Toyota Camry, 2011 model car.
According to him, the defendant squandered the money and did not buy the car for the complainant.
She said that the defendant switched off his phone and moved out of his house in order to avoid paying the money back.
The offences contravene Sections 411, 314 and 287 of the Criminal Laws of Lagos State, 2015 (Revised).
The News Agency of Nigeria reports that Section 314 is punishable by 15 years imprisonment for obtaining by false pretence, while 287 stipulates three years imprisonment for the offence of theft.
Chief Magistrate Adeola Adedayo, admitted the defendant to bail in the sum of N1million with two sureties in like sum.
She directed that both sureties must be residing within the court’s jurisdiction and be gainfully employed with evidence of three years tax payment to Lagos State Government.
She further held that the sureties must also show proof of employment, proof of their sources of income and must have their addresses and offices verified by the court.
Adedayo adjourned the case until March 29 for mention.