The Economic and Financial Crimes Commission in December 2012 arraigned one Christopher Madiero before Justice Lateefa Okunnu of the Lagos State High Court, Ikeja on a six count charge of stealing contrary to section 390 of the Criminal Code Cap C17, Laws of Lagos State.
Madiero is alleged to have as General Manager of B.C. Madiebo Insurance Brokers Limited defrauded the company of over N30million. He pleaded not guilty to the six count charge when it was read to him. Counsel to EFCC, Francis Usani then asked the court to fix a date for trial and remand the accused person in prison custody.
Attempt by the defence counsel, Tony Ezeani to move an oral application for bail was rejected by the judge who said it should be filed properly. Justice Okunnu ordered the defendant to be remanded in prison custody while adjourning to 16 and 17 January 2013 for trial In a related development, the EFCC also arraigned one Jide Yinka Fagbure alias Jide Babalola before Justice Okunnu on a six count charge of conspiracy to obtain money under pretence, stealing and forgery contrary to section 467 of the criminal code cap C17 Laws of Lagos State 2003.
Fagbure and one Tunde Dayo (at large) were said to have conspired to obtain the sum of N356, 000 from one Hon Tubokun Akintelure under false pretences. Fagbure pleaded not guilty to the charge. Justice Okunnu adjourned proceedings to January 23 and 24 for trial and ordered that the defendant be remanded in prison custody.