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A Federal High Court, sitting in Ado-Ekiti, Ekiti State on Friday arraigned Victor Olanipekun, 34 and Olabayo Adeboye, 40, over alleged N47,800,000 fraud.
The suspects were arraigned on four-count charge bordering on conspiracy and fraud, offences punishable under section 1(3)and 11 of the Advance Fee Fraud and other Fraud Related Offences Act 2006, and Section 390(6)of the Criminal Code Act 2004.
The police prosecutor, Samson Osobu, said Olanipekun unlawfully diverted the sum of N21.9million belonging to Sadesh Global Limited to his personal vault while Olabayo under false pretence, defrauded the said company of a total sum of N25.9million.
On their part, counsel to the defendants, Dotun Omoteye and Funmilayo Akinwumi made an oral plea for the bail application of their clients.
But Justice Babs Kuewumi rejected the bail application and adjourned the case to une 17, 2024, for further hearing.
