Three men were on Friday arraigned before an Ikeja Magistrates’ Court in Lagos over the alleged fraud of N11.4m involving the failed sale of a Toyota Camry vehicle.
The defendants — John Zinsu, 43; Koleoso Olamide, 45; and Oyinlola Saheed, 37 — were brought before the court on charges bordering on conspiracy, obtaining money under false pretences, and stealing.
According to the prosecution, the suspects allegedly deceived the complainant, identified simply as Idiahi, into paying N11.4m for a grey 2013 Toyota Camry which was never delivered.
The prosecutor, SP Josephine Ikhayere, told the court that the offences were committed within the Yaba Magisterial District of Lagos.
She alleged that the trio conspired with other persons said to be at large to collect the money under the guise of selling the vehicle to the complainant.
Ikhayere further stated that after receiving the payment, the defendants allegedly failed to provide the car and also refused to refund the money, instead converting the funds for personal use.
The prosecutor said the alleged offences contravened Sections 287, 314 and 411 of the Criminal Law of Lagos State, 2015.
The defendants, however, pleaded not guilty to the charges.
Presiding Magistrate, Mr L.A. Owolabi, granted each of the defendants bail in the sum of N500,000 with two reliable sureties in like sum.
The case was adjourned until June 30 for mention.