The Police in Osun, on Wednesday arraigned five persons at the Federal High Court, Osogbo, for alleged N8.7 million fraud.
The Defendants are Adedeji Taiwo, Seun Oladunoye, Olawale Idowu, Ojo Olatunbosun, and Oladayo Oluwafemi.
The prosecutor, Mr Muyiwa Ogunleye, a Principal State Counsel, had told the court that the accused persons committed the offence sometime between February and March, at Adebam-Busayo Trading Complex, Ayetoro area, Osogbo.
Ogunleye, said Taiwo, Oladunoye, Idowu Olatunbosun and Oluwafemi, all conspired and defrauded Adebam-Busayo Trading Store of a total sum of N8.7 million.
“The accused happened to be workers of the trading store before their antics were discovered by the management of the company and their arrest effected,” he said.
The Prosecutor said the offence contravened sections 1(A) (B) (2) of the Advance Fee Fraud and other Related Offences Cap 8, Vol.1, 2006 and 421, 383; and punishable under Section 390 (9) of the laws of the Federation of Nigeria, 2004.
The defendants had pleaded not guilty to the eight-count charge against them.
Justice Peter Lifu, granted the defendants bail in the sum of N10 million and two sureties in like sum each.
Lifu said the sureties, who must be resident within the court’s jurisdiction, must also have evidence of tax payments.
He further ordered the sureties to present three passport photographs, attached with affidavit of means; and should have their addresses verified by the court.
The judge ruled that one out of the sureties of each defendant must be a civil servant on grade level 14, while the other should be a close relation of theirs.
The case was adjourned till Dec. 4 for hearing.