Man in court over alleged N50m fraud

Man in court over alleged N50m fraud

A 35-year-old man, Abass Yaro-Lecky, who allegedly defrauded a businessman of N50 million, was on Friday arraigned at a Chief Magistrates’ Court in Ikeja, Lagos.


Yaro-Lecky, whose residential address was not provided, is facing four-count charge of conspiracy, stealing, forgery and obtaining money under false pretences.


He, however, pleaded not guilty to the charge.


The police prosecutor, Insp. Emmanuel Ajayi, said that Yaro-Lecky allegedly obtained N50 million from the complainant, Dr Tosin Adekunle, to facilitate the purchase of Bonny Light Crude Oil, purportedly from NNPC.


Ajayi told the court that the defendant committed the offence with two others, now at large, between October 2017 and May 2018 in Lagos.


He alleged the defendant also forged NNPC sales and purchase agreement for joint venture contract of sales.


Chief Magistrate S. A. Odunsanya admitted the defendant to bail in the sum of N500,000 with two sureties in like sum.


He ordered that the sureties must be gainfully employed and must provide evidence of three years’ tax payment to the Lagos State Government.


The magistrate adjourned the case until Oct. 15 for hearing.

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