A 22-year-old student, David Ayodeji, who allegedly defrauded another of N4.7 million on the pretext of selling bitcoin to him was on Thursday brought before a Yaba Chief Magistrates’ court in Lagos.
The defendant, who is a student of Ekiti State University, is facing a three-count charge of conspiracy, obtaining by false pretence and stealing.
He, however, pleaded not guilty to the charge.
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Police prosecutor, Insp Modupe Olaluwoye, told the court that the defendant committed the offences sometime in August 2021, at No 10, Adeyinka Okunade St. in Festac area of Lagos.
She said the defendant collected N4.7 million from the complainant, Mr Newton Okolo, by telling him that he had Bitcoin for sale.
The complainant added that when the complainant gave the defendant the sum of N4.7 million he converted it to his personal use.
According to her, the defendant defrauded the complainant, as he knew that he did not have any bitcoin for sale.
The offences contravene Sections 314, 287 and 411 of the criminal laws of Lagos state, 2015 (Revised).
Section 314 is punishable by 15 years’ imprisonment for obtaining by false presence, while 287 stipulates three years’ imprisonment for the offence of stealing.
Chief Magistrate Mrs Linda Balogun, admitted the defendant to bail in the sum of N2 million with two responsible sureties in like sum.
She directed that both sureties must reside within the court’s jurisdiction and be gainfully employed with evidence of three years’ tax payment to Lagos State government.
She further held that the sureties must also show proof of employment, proof of their sources of income and must have their addresses and offices verified by the court.
Balogun adjourned the case until April 4 for mention. (NAN)