Trader Docked for Allegedly Failing to Repay N1.5m
A trader, Olusegun Oredola, 52, who allegedly defaulted in paying back N1.5 million bank loan,on Thursday appeared in an Ikeja Chief Magistrates’ Court. The police charged Oredola, who resides at 7, Yarain Opeyemi St., Abule Ijoko, Ogun State with three counts of obtaining by false pretenses, fraud and theft. The Prosecuttion Counsel, ASP Raji Akeem told the […]
A trader, Olusegun Oredola, 52, who allegedly defaulted in paying back N1.5 million bank loan,on Thursday appeared in an Ikeja Chief Magistrates’ Court.
The police charged Oredola, who resides at 7, Yarain Opeyemi St., Abule Ijoko, Ogun State with three counts of obtaining by false pretenses, fraud and theft.
The Prosecuttion Counsel, ASP Raji Akeem told the court that the offence the defendant committed the offence on Sept. 1, 2020 at 25B, CTTC house, Wemco road, Ogba.
Akeem alleged that the defendant approached Credit Pro Business Service Limited company, for a loan of N1. 5 million with a promise to pay back in three months.
After three months, the prosecutor said, the defendant presented a cheque to the company.
“When the payment date was matured, the cheque was tendered at the bank, but returned as a dud cheque,”he said.
The offence, he said, contravened the provisions of sections 287, 315, 321 and 323 of the Criminal Law of Lagos State, 2015.
The defendant pleaded not guilty to the charge.
Chief Magistrate O. I Adelaja admitted the defendant to bail in the sum of N300,000 with two sureties in like sum.
Adelaja adjourned the case until July 9 for mention.
