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62-Year Old Medical Doctor Remanded In Prison For N13.5 Million Fraud

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A Lagos High Court, sitting in Ikeja on Tuesday, May 19, 2015 ordered that a medical doctor, Obinna Monagor, 62 be remanded in prison custody over alleged fraudulent conversion of N13.5 million.

Justice Oluwatoyin Ipaye gave the order after Dr. Monagor was arraigned by the Economic and Financial Crimes Commission (EFCC) on a one-count charge of stealing by fraudulent conversion Sun reports.

Counsel to the EFCC, Ademola Omeiza, told the court that sometime in 2010, Dr. Monagor had approached the complainant, Mr. Godwin Achi, informing him that he had a three-storey building for sale.

The court heard that the property, located at No.7, Tade Aromolate Close, William Estate, Surulere, Lagos, was offered to the complainant for N150 million.

The complainant,  paid a first installment, but could not pay the balance following inability to obtain a credit facility from his bank.

According to the EFCC lawyer, Mr. Achi finally got the loan in 2012, but discovered that the said property had been sold to another party, Edscob Suites.

The prosecutor said that following the development, the complainant demanded the refund of his initial deposit from Dr.Monagor.

He said that the refusal of the defendant to pay back the money after one year of selling the property to another buyer prompted Achi to petition the EFCC.

Mr. Omeiza said that investigation into the matter by the commission consequently led to Monagor’s arrest and the ongoing prosecution.

According to him, Monagor’s action contravened Sections 390 (8) (b) and (9) of the Criminal Code Laws of Lagos State of Nigeria, 2003.

The accused medical doctor, however, pleaded not guilty to the charge.

Ruling on the bail application filed by Dr. Monagor’s counsel, Muiz Banire, the judge granted bail to the defendant in the sum of N5 million with two sureties in like sum.

The judge directed that one of the sureties must be a blood relative while both should produce evidence of three years tax clearance payment to the Lagos State Government.

Dr.Monago, who lives in Lagos, would thus remain in prison pending the perfection of his bail conditions.

The matter was adjourned to Thursday, June 24, 2015 for trial.

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