A Chief Magistrates’ Court, in a Wuse Zone Six Abuja, on Tuesday arraigned one Hule Sunday, for allegedly defrauding his business partner of N10 million.
The prosecution counsel, Opeyemi Akanbi, while presenting the case told the court that the complainant, Iliyasu Abdu, of Suite 22.1, Apo, Abuja reported the matter to the Inspector-General of Police Force Headquarters through a written petition on Aug 14.
He alleged that the defendant collected N10 million from the complainant as an investment into a business.
The prosecutor said that the defendant promised that the maturity period for returns on investment was for three months.
According to him, on the expiration of the three months on Dec. 16, 2019, the defendant failed to return the money and instead converted it to his personal use.
He said the offence contravened the provisions of sections 309,312 and 322 of the Penal Code Law.
However, Magistrate Linda Chidama in her ruling admitted the defendant to bail in the sum of N500,000 with two sureties in like sum.
She adjourned the case until Oct. 21, for hearing, NAN reports.