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John Abebe, a younger brother of the late former First Lady, Stella Obasanjo, has been arraigned before the Lagos State Special Offences Court in Ikeja over allegations of fraud.
Abebe was docked alongside; a former Head of First Bank Plc, United Kingdom Correspondent Office, Kamoru Alade Oladimeji, and Inducon Nigeria Limited before Justice Olubunmi Abike-Fadipe on a six-count charge of conspiracy, stealing, and obtaining money under pretence.
Some of the counts against the defendants read: “ That you Dr. John Abebe and Kamoru Alade Oladimeji, on or about the 4th day of June 2013 in Lagos within the jurisdiction of this Honourable Court conspired amongst yourselves to commit felony to wit; stealing the sum of N120 million property of Arsenal Technologies Limited.
“That you Dr. John Abebe and Kamoru Alade Oladimeji, on or about the 4th day of June 2013, in Lagos within the jurisdiction of this Honourable Court conspired amongst yourselves to commit felony to wit; obtaining by false pretence the sum of N120 million property of Arsenal Technologies Limited under the pretence that your property lying being and situate at 9, Magbon Close, Ikoyi-Lagos State, which you pledged as the security to the Arsenal Technologies Limited was unencumbered, which representation you knew to be false.
The Economic and Financial Crimes Commission maintained that the offences are contrary to sections 280(1), (12), 8 (7), 285(1) and 278(1)(b) of the Criminal Laws of Lagos State, 2011.
The defendants, however, pleaded not guilty to the charge.
In her ruling, Justice Abike-Fadipe granted the first defendant bail in the sum of N20 million with one surety in like sum and fixed December 6 for the commencement of the trial.
This article was updated 3 weeks ago
