3 docked for alleged N2.5m loan fraud in Lagos

Police on Monday arraigned three persons at the Yaba Chief Magistrates’ Court in Lagos over an alleged N2.5 million fraud.

The defendants – Oliver Qussa (29), Azignon Appoeinane (33), and Kiki Dorcas (40) – were arraigned on a six-count charge of conspiracy, obtaining by pretense, issuance of dud cheque, breach of public peace, and stealing.

The police alleged that the trio fraudulently took a loan of N2.5 million and issued a dud cheque to the complainant.

The prosecutor, Insp. Magaji Haruna, told the court that the defendants committed the offences between September and this month at Infinity Microfinance Bank, Sabo Market, Yaba, Lagos.

Haruna alleged that Quss took a loan of N2.5 million from the MFB and got the second and third defendants to stand as his guarantors.

He submitted that when Qussa defaulted and breached the mutual agreement, the guarantors were arrested.

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“In a bid to settle the debt, the second defendant issued a Wema Bank dud cheque of N2.5 million that was dishonored due to insufficient credit balance,” the prosecutor added.

The offences, according to him, contravened Sections 168, 280, 314 (3), 321(b), 325, and 411 of the Criminal Law of Lagos State, 2015.

The Magistrate, Mrs. O. Y. Adefope, granted the defendants bail in the sum of N500,000 each with two sureties each in like sum.

Adefope said the sureties must be gainfully employed and show evidence of tax payment to the Lagos State government.

She adjourned the matter till January 24, 2024 for mention.

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