An independent oil marketer was yesterday charged with a fraud of N1.7 million at an Igbosere Magistrates’ Court, Lagos. The accused, Olapade Bakare, 42, is standing trial on a two-count charge of fraud and stealing. He, however, entered a not-guilty plea.
The prosecutor, Insp. Frank Emerho, said the accused with two others still at large allegedly collected N1.7 million from Mr Aremu Idowu under the pretext of supplying him automotive gas oil (diesel).
He alleged that Bakare, whose address was unknown, collected the money since March 13 and failed to deliver the product.
“The accused was first arrested in March and was later released on bail following a promise by him to refund the money, but he failed to do so. Bakare was re-arrested on Sept. 17 at his hide-out and brought to trial ,’’ he told the court.
Magistrate Jacob Adegun granted the accused bail in the sum of N 200,000 with two sureties in like sum. He adjourned the case to Oct. 5 for trail.