A 43-year-old businessman, John Ebiekpi, who allegedly defrauded his business partner of N12 million on Monday appeared at an Igbosere Magistrates’ Court, Lagos.
Ebiekpi, whose address was not provided, is facing a three-count charge of fraud, stealing and issuance of dud cheque, but he pleaded not guilty.
The Prosecutor, Sergeant Friday Mameh, told the court that the accused committed the offences in August 2014 at Yaba area of Lagos.
He said that the accused fraudulently obtained the N12 million from the complainant, Mr Hyacinth Onah, the Managing Director of K-Dission Businesses Ltd, under the guise that he would invest it in a business.
Mameh said that the accused did not invest the money in any business and was unable to refund the money.
“However, between 2015 and 2017, the accused issued two different Diamond Bank cheques worth N7.3 million and a Union Bank cheque worth N1.5 million to the complainant, which were all dishonoured due to insufficient funds,” he said.
The offences contravened Sections 287, 314 and 321 of the Criminal Law of Lagos State, 2015.
Section 287 stipulates a three-year jail term for offenders.
In her ruling, the Magistrate, Mr Y. O. Aro-Lambo, granted the accused N1 million bail with two sureties in like sum.
The case was adjourned until Jan. 21, 2019 for mention.