The Managing Director of Sunjay Oil and Gas Ltd, Isolo, Lagos, Sunday Adeolu, was on Tuesday brought before an Igbosere Magistrates’ Court in Lagos, for allegedly defrauding Erewane Enterprises Ltd of N12.8 million.
The accused, 47, was charged alongside his company, on a four-count charge bordering on conspiracy, fraud and forgery.
The Prosecutor, Insp. Abbas Abayomi, told the court that the accused committed the offences between March and April, 2017, in Isolo area of Lagos.
Abayomi said the accused fraudulently obtained 60, 000 litres of Automated Gas Oil (AGO) valued at N11 million from Erewane Enterprises Ltd, and promised to remit the money after sales.
The prosecutor told the court that the accused knew that the promise was false.
He said the accused also fraudulently forged Erewane Enterprises Ltd Local Purchase Order (LPO) with intent that it should be acted upon as genuine.
Adayomi said the accused also collected 10, 000 litres of diesel worth N1.8 million from Adewunmi Oil and Gas Ltd and failed to remit the money.
“The accused failed to refund the total sum of N12.8 million he obtained from the two companies,’’ he said.
He said the offences contravened Sections 315, 365 and 411 of the Criminal Law of Lagos State, 2015, where Sections 315 stipulates a 15-year jail term for offenders.
The accused, however, pleaded not guilty to the charge.
In her ruling, the Magistrate, Abimbola Komolafe, granted the accused bail in the sum of N5 million each with two sureties each in like sum.
She said that the sureties must be gainfully employed and should reside within the jurisdiction of the court.
Komolafe said the sureties must show evidence of three years tax payment to the Lagos State Government.
She adjourned the case until March 27 for mention.