HAHA!!! Businessman In Trouble For Allegedly Defrauding Microfinance Bank Of N5m



A businessman, Mufutau Gbadamosi, on Tuesday June 16, appeared before an Ebute Meta Chief Magistrates’ Court in Lagos for allegedly using forged documents to obtain a N5million loan from FBN Microfinance Bank.

The accused, 44, is facing a three-count charge of fraud, obtaining under false pretext and stealing.

Gbadamosi, however, pleaded not guilty to the three-count charge preferred against him.


But the Prosecutor, Insp. Richard Odigie, told the court that the accused committed the offences on May 26, 2013, at No. 305, Herbert Macaulay Way, Yaba.

He said the accused defrauded the microfinance bank situated at No. 11, Suberu Ogunsanya St., off Ayangburen Road, Ikorodu.

The prosecutor said that Gbadamosi presented fake landed property documents as collateral to obtain the N5million loan from the bank.
He added that the accused refused to pay back the loan he took from the microfinance bank till his arraignment.

The prosecutor said that the offences contravened Sections 285 and 312 of the Criminal Law of Lagos State, 2011.

Chief Magistrate O.I. Adelaja granted the accused bail in the sum of N500, 000 with two sureties in like sum.

Adelaja adjourned the case till July 8, for mention. (NAN)



SEE ALSO: HAHA!!! Police Arraign 32-Year-Old Man Charged With N3million Internet Fraud




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