Businessman Docked Over Alleged N8m Fraud

Kogiflame
Kwara state Upper Area Court sitting in Ilorin on Wednesday docked a businessman, Sheu Atere for alleged fraud of a sum of N8 million.
Atere who deals in petroleum products, was dragged to the court by one Ganiyat Bisola Ishola for alleged breach of trust.
In a direct complaint of criminal misappropriation, criminal breach of
trust and cheating number UAC1/CRF/126/2021, counsel to the
complainant, Taofiq Sanusi accused the defendant of reneging on agreement.
Sanusi said : “The complainant briefed us that Alhaji Sheu Atere approached her in the year 2020 to assist him with fund in his petroleum business promising to be paying profit over the capital on monthly basis.
“The defendant lured and fraudulently deceived the complainant into a fictitious business of dealing in petroleum products. In the process, the complainant gave the sum of one N1m, her personal money to the defendant.
“The defendant also pressurized the complainant to add to the initial
amount borrowed from the complainant and the complainant collected a sum of N7m from her boss in office and her friend to give to the defendant with the assurance of using the money for business purposes.”
He added that the complainant equally lent out a sum of 250,000 to the defendant for personal use.
“Recently, the complainant discovered that the defendant is a fraudster who had allegedly duped many people to the tune of over N100 million,” Sanusi added.
The complainant’s counsel told the court that his client (complainant) had suffered arrest, humiliation and detention in police custody from her boss and friend because the defendant reneged on their agreement.’
He therefore urged the court to remand the defendant in prison custody, adding that “a lot of people have fallen victims of the defendant’s antics,
But defendant counsel I . E Iyanda urged the court to grant him bail, saying he would not evade justice.
In his ruling, presiding Judge Sunday Adeniyi granted the defendant bail with a sum of N1m , with sureties and a deposit of N4m .
He then adjourned the case to July 28th 2021 for hearing.