A Federal High Court in Lagos on Monday remanded a Nigerian Olakunle Bello Shola and a dual Indian-Canadian citizen, Santosh Singh, following their arraignment for alleged N100,075,000 fraud.

Justice Oluremi Oguntoyinbo made the order after Lakunle 31 and Santosh 43, pleaded not guilty to a one-count charge of obtaining by false pretence, preferred against them by the Police Special Fraud Unit (PSFU) Ikoyi, Lagos.

She remanded the defendants in the Nigerian Correctional Services custody for ruling on their bail applications on November 4.

The prosecutor, Mr. Sylvester Azuibuike, alleged that the defendants and one Vivek Bansal, now at large, with intent to defraud, obtained N100,075 million from a bank, through their company, Continental Logistics Ltd.

They deceived the bank that the money would be used to procure 240 metric tonnes of Sesame seed and 44.9 metric tonnes of cashew nuts, which were to be stored at a warehouse in Kano State.

The court heard that the defendants allegedly falsely told the bank the deal would be a tripartite agreement involving Continental Logistics Ltd, Thramaseed Inpex Ltd and the bank.

The offence, according to the prosecutor, contravened Section 1(2) of the Advanced Fee Fraud and other related Offences Act, 2006 and was punishable under Section 1(3) of the same Act.

Following the defendants’ plea of not guilty, the prosecutor applied for a trial date, while also praying the court to remand the defendants till the determination of the charge against them.

But the defence team led by Mr Olalekan Ojo (SAN) opposed him.

Ojo told the judge that the defendants had filed bail applications and same had been served on the prosecution.

He prayed the court to hear their applications and admit the defendants to bail “in the most liberal terms.”

Justice Oguntoyinbo granted him leave to move the applications, but reserved ruling till November 4.

She fixed December 11, for commencement of trial.

Source;
https://thenationonlineng.net/nigerian-canadian-remanded-for-n100m-fraud/

that's so much money

Bastard

100 mill
Crime doesn't pay

Banks no dey do due diligence when dem see rich or white man

will be interesting to see pictures of that guy in a suit

Ok

Olakunle Bello

Yoruba Muslims sha

I know he's a Yoruba man before opening the thread, any crime committed in the west are mostly yorubas

At this stage if we check a typical Nigerian DNA we are going to find corruption and fraud embedded in it

Nigerians been doing collabors with other foreign nationals like back to back...these guys are heartless,just imagine stealing 100meters from one person...una wor kill am??...common 2k that was transfered from my account 2weeks ago,up till now,i haven't recovered yet..#NO TO YAHOO ABEG.

Served that unnamed Bank right , If a serious Entrepreneur approach that bank and ask for N100,000 loan to boast Business they will decline or quote outrageous interest rate that can be very scary !!

If boys yaff spend that N100m, patapata na prison and dem go still be king there

IMF. .. Are you guys learning?

It's been one fraud or accident this week...hmm


Why do the bank not do adequate background check?

If na poor man now or small biz owner they'll check your kidneys and intestines after confirming your ancestry

ednut1:
Banks no dey do due diligence when dem see rich or white man

i am more inclined to think someone in the bank was in on it.

Ambassadors

Na wa

When it comes to procuring produce I cannot say if these guys aren't victims themselves.

We need more information.

i hate crime acts.

Things have gone awry in our country, news now have been mainly fraud,fraud and fraud

just click to see what a canadian looked like. I've seen plenty naija scammer online

realestniggah:
At this stage if we check a typical Nigeria DNA we are going to find corruption and fraud embedded in it

Not mine!

Nigeria shall be great again # atiku is cuming

OLAKUNLE BELLO SHOLA. .*Spits*.Omo ale lasan .Hang him. Nonsense