Ex-Punch Nigeria Ltd Sales Manager, Ogunbanjo Mikhail, has been arrested for allegedly defrauding two businessmen to the tune of N950m under the false pretence of giving them the company’s Local Purchasing Order (LPO), which was false.
The suspect, Mikhail, was arraigned before the Yaba Magistrates Court on three-count charges of obtaining money by false pretences, forgery, and stealing.
According to the Police, Mikhail allegedly defrauded two men, Olusola Ikuyajesin and Durodola Balogun, the total sum of N950 million between January 2017 and December 2022 in Ikorodu, Lagos State.
The prosecutor, Supol Rita Momah, told the Court that Mikhail obtained N450 million from Mr. Ikuyajesin and N500 million from Mr. Balogun respectively, under false pretences that the money would be used to purchase stationery for the company.
Mikhail reportedly forged Punch Nigeria Ltd.’s Local Purchase Orders (LPOs) to carry out the alleged crime, contrary to Sections 287, 314, and 365 of the Criminal Law of Lagos State.
However, he pleaded not guilty when he was arraigned.
The prosecutor, Supol Momah, then asked the Court to give a date for hearing since he pleaded not guilty to enable the Police to prove that he actually committed the alleged offence.
The Presiding Chief Magistrate, Mrs. Adeola Olatubosun, granted Mikhail bail of N10 million and two sureties in the same amount and the defendant must deposit his international passport with the Court and directed that one of the sureties must have a landed property within the Court’s jurisdiction.
The matter was adjourned till 5th April, 2023, for hearing while the defendant was remanded in correctional center pending when he will perfect his bail conditions.