Lagos businessman Sodiq Adamu, 44, has been arrested by the Police at Zone 2 Command, Lagos, and charged before a Lagos Magistrate’s Court for allegedly obtaining N129,900,000 under false pretenses.
The police allege that Adamu obtained the money from complainant Abdulazeez Imam, promising to use it to purchase $150,000. However, Adamu reportedly failed to buy the dollars and instead converted the N129.9 million for his personal use before fleeing.
Following the complaint, Assistant Inspector General of Police (AIG) Durosimi Olatoye of Zone 2 Command directed a special team to track and apprehend the suspect. After months of intelligence gathering, the police located Adamu in a hideout in Lagos and arrested him.
Adamu has been charged before the Igbosere Magistrate’s Court, sitting at the Ebute-Metta Magistrate’s Court, Lagos, on a three-count charge of obtaining money by false pretenses, stealing, and conduct likely to cause a breach of peace.
Police prosecuting counsel, ASP Francis Igbinosa, told the court that Adamu committed the offenses on July 31, 2023, in Victoria Island, Lagos. According to Igbinosa, Adamu intended to defraud Imam by promising to exchange the N129.9 million for $150,000 but instead absconded with the money.
The offenses are punishable under sections 314, 287, and 168(d) of the Criminal Law of Lagos State, 2015.
Adamu pleaded not guilty to the charges. Magistrate Mrs. Erinle granted him bail set at N5 million, with two sureties in the same amount. The case has been adjourned until June 26, 2024, for mention. Adamu is to be detained at the Ikoyi correctional facility until he meets his bail conditions.
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