The Economic and Financial Crimes Commission (EFCC), on Tuesday arraigned an Owo prince, Toluwalade John Olateru Olagbogi in the Federal High Court in Ibadan over a N35.5 million fraud.
EFCC is prosecuting Olateru on one count charge bordering on obtaining money by false pretence to said sum.
Olateru resides in the Bodija area of Ibadan in Oyo State, where he allegedly collected the sum from the complainant on the pretext of trading in forex.
According to the charge sheet, the accused intended to defraud his victim identified as a businessman, Julius Olorunsogo Alase under false pretence an offence that contravenes Section 1(1)(a) and is punishable under section 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act 2006.
He pleaded ‘not guilty to the charge.
Justice Agomoh ordered that the defendant be remanded at the Nigerian Correctional Centre, Agodi and adjourned the case till October 25 for hearing of the bail application as well as November 15 for commencement of trial.
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