Three men, Hycent Dogwu, 48, Victor Onyeka, 32, and Henry Ezimakor, 32, appeared in an Ogudu Magistrate’s Court on Thursday for allegedly committing fraud of N8.94 million.
Two counts of breach of peace and stealing have been filed against the defendants, whose addresses were not revealed.
They denied the charge and pleaded not guilty.
According to the prosecution, Insp. Sunday Bassey, the defendants committed the crime in Ojota, Lagos, between October and November,
Bassey revealed that the defendants took N8.94 million from the plaintiff, Imo Kelechi, and six others under the guise of remitting 40% of the money as investment interest into their accounts.
He claimed the defendants pretended to be a recognized financial institution to Imo Kelechi and others, which he claimed was a lie.
The prosecutor stated that the complainant’s attempts to recover the funds were unsuccessful.
According to Bassey, the crime violated Sections 168(d), 314, and 287 of the Lagos State Criminal Law, 2015 and stealing is punishable by a three-year prison sentence under Section 287.
The defendant however, was granted bail in the amount of N500,000 by Magistrate A.O Daodu, with two sureties in the same amount.
The case was delayed until January 10 for mention by Daodu.