Alleged N48.4m Fraud: Man Arraigned, Remanded In Prison Custody

The Economic and Financial Crimes Commission, EFCC, Lagos Zonal office, on Tuesday, June 25, 2019, arraigned one Adegoke Olufemi Kolawole before Justice O.A.Taiwo of the Special Offences Court sitting in Ikeja, Lagos on a three-count charge bordering on stealing and conversion to the tune of N48,438,440.00 (Forty-eight Million, Four Hundred and Thirty-eight Thousand, Four Hundred and Forty Naira). .

The complainant, Lagos State Government, alleged that one Oriade Mustapha, a staff of the Lagos State Judiciary, diverted drafts meant for filling fees and handed them to Kolawole who, in turn, sold them to estate agents at 80% of the original cost. .

The proceeds were allegedly shared between the defendant and Mustapha, who is still at large. .

Count one  reads: “That you, Adegoke Olufemi Kolawole (aka Fegodam Company) and Oriade Mustapha (still at large) ,sometime in 2018 in Lagos, within the jurisdiction of this honourable court, conspired to commit felony, to wit: stealing of the sum of N48,438,440.00 (Forty-eight Million, Four Hundred and Thirty-eight Thousand, Four Hundred and Forty Naira), property of the Lagos State Government.” .

The defendant pleaded not guilty to the charge when it was read to him. .

In view of his plea, the prosecution counsel, Muhammed Abbas, asked the court for a trial date and also prayed that the defendant be remanded in prison custody pending the commencement of trial. .

The Judge ordered the defendant to be remanded in prison custody and adjourned to July 9, 2019 for commencement of trial.