A 77-year-old Ghanaian, Kishore Khubchadani was arrested by the police for allegedly swindling a whooping sum of N8 million from his business partner Fakayode Gbadebo at Muri Fulami Street, G.R.A. Ogudu, Lagos State.
According to police reports the defendant collected 50,000 litres of diesel worth N8 mllion from the complainant in March, 2014 with the promise to pay back the following day.
Khubchadani, had issued three different Diamond Bank cheques in April and May, valued N8 million, which bounced when presented at the bank and efforts to get the money from him were said to have proved abortive.
Khubchadani was subsequently arrested and arraigned before an Ebute Meta Chief Magistrate’s Court on four counts of fraud and issuance of dud cheques.
The charges read in part, “That you, Kishore Khubchadani and others at large, sometime in March, 2014, at about 12am, on Muri Fulami Street, G.R.A. Ogudu, Lagos, in the Lagos Magisterial District, with intent to defraud, did obtain 50,000 litres of diesel valued N8m from one Fakayde Gbadebo, on the pretence that you were going to pay back on the following day, a representation you knew to be false.
“That you on April 30, 2014 at about 10am with intent to defraud did issue a Diamond Bank cheque serial no 56982531, dated April 30, 2014 for the sum of N3.2m, with account number of 0017206xxx in favour of one Fakayode Gbadebo, which when presented for payment, was dishonoured as a result of insufficient funds.”
The police prosecutor, Inspector George Nwosu, said the offences were punishable under sections 312 and 319 of the Criminal Law of Lagos State, Nigeria, 2011.
The defendant pleaded not guilty to the charges and elected summary trial.
His defence counsel, Spurgeon Ataene, applied for his bail in liberal terms, citing section 36 of the Administration of Criminal Justice Law of Lagos State, Nigeria, 2011.
The Chief Magistrate, Mr. Tunbosun Abolarinwa, admitted to bail in the sum of N2m with two responsible sureties each in the sum of N1m.
The matter was adjourned till September 17, 2014 for mention.