Businessman, Company In Trouble For Alleged N7m Fraud, Arraigns In Court

The Economic and Financial Crimes Commission on Tuesday, June 13, 2023, arraigned one Taiwo Oladipo Amos and his company, Olatamos Technologies Ltd, before Justice Efe Ikponmwonba of the Edo State High Court sitting in Benin City, Edo State on one court charge bordering on stealing.

Amos is alleged to have through his company defrauded Teamicabenation  Ltd of the sum of N7,264.000  which was meant for the purchase of bitcoin.

The charge reads: “that you, Taiwo Oladipo Amos and Olatamos Technologies Ltd on or about the 9th August, 2021 stole the sum of N7,264,000 property of Teamicabenation Limited by fraudulently converting the said sum, which was paid to you by Teamicabenation Ltd for the purchase of bitcoin to your own use, and thereby committed an offence contrary to Section 383 of the Criminal Code Cap 48 Laws of Bendel State of Nigeria 1976, as applicable in Edo State, and punishable under Section 390 of the same law”.

The defendant pleaded not guilty to the charge.

Consequently, the prosecution counsel, Ibrahim Audu asked for the remand of the defendant and a date for trial to commence.

However,  the defence counsel, E .Adeghebanu informed the court that he has filed an application for bail and prayed the court to grant his client bail as the alleged offence was bailabĺe.

Justice Ikponmwonba granted the defendant bail in the sum of One Million Naira with one surety in like sum. The surety must be gainfully employed and resident within the jurisdiction of the Court.

The case was adjourned till July 18, 2023 for hearing.