The police on Friday arraigned two brothers, Oluwatosin Bakare, 36, and Ayinde Bakare, 56, both of Iju-Ajuwon, Ogun, in a Wuse Zone 2 Chief Magistrates’ Court, Abuja, for N46m fraud.
The prosecutor, DSP Peter Amadi, told the court that on Aug. 28, 2013, Ibrahim Umar and Co, (Barristers and Solicitors) of the Supreme Court of Nigeria, wrote a petition against the accused persons.
He said the petition was written to the Inspector-General of Police on behalf of Retired Group Capt. Bala Magaji-Umar.
Amadi said the petition alleged that between March and April 2013, the accused persons and some others now at large, defrauded Magaji-Umar.
He added that the accused fraudulently collected N46m from Magaji-Umar and deceived him to invest in their company, Digstar Investment Ltd.
The prosecutor noted that the accused persons, however, diverted the money to their personal use.
He said the accused persons are standing trial for the offences of criminal conspiracy, misappropriation, breach of trust and cheating, contrary to the provisions of sections 97, 309, 312 and 322 of the Penal Code.
He then applied that the accused be remanded in prison, adding that it was not easy locating and arresting the accused persons.
Amadi also told the court that against the argument of the deference counsel that the accused persons had health challenges, there were no substantial evidence to show that they had such health problems.
The accused persons both pleaded not guilty.
But their Counsel, Isaac Paul, applied for their bail under section 36(5) of the 1999 Constitution which presumes an accused innocent until proven otherwise.
He said all of the offences they were charged with were bailable, except that of cheating for which the bail was at the discretion of the court.
Paul said his clients had health conditions that would require regular medical attention.
He said, “The first accused, Oluwatosin, suffers from sickle cell, while the second accused, Ayinde, has a history of heart condition.
“On these grounds, we pray the court to grant them bail.’’
He said his clients would not jump bail if obliged and that they were ready to produce reasonable sureties to take them on bail.
The Chief Magistrate, Mrs Ramatu Gulma, granted them bail in the sum of N5m each with two reliable sureties each in like sum who must reside within the jurisdiction of the court.
She said one of the sureties must be a civil servant on GL 10 or above who is employed within AMAC, while the other surety must be a businessman and must swear to an affidavit of means.
Gulma adjourned to reconvene the case on May 7 for hearing.