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Sexagenarian faces fraud, currency counterfeiting charges

19 September 2013, 16:00

Abeokuta - The police on Thursday in Abeokuta arraigned a 65-year-old man, Amodu Olatoye, over alleged fraud and possession of fake foreign currency.

Olatoye, whose address is unknown, is charged with fraud and possession of counterfeit currency at an Abeokuta Chief Magistrates' Court.

The police prosecutor, Banji Sangotokun, told the court that the offences were committed on May 5 at Adedotun area of Ogun capital.

He alleged that the accused collected N750 000 from one Akeem Oyeneye under the pretext of assisting him to purchase a vehicle.

Sangotokun, an inspector, said 56 pieces of counterfeit dollars worth 100 000 dollars were found on him during a search.

The offences, he noted, contravened Sections (1) (a), 3 and 8(a) of the Advance Fee Fraud and other Related Offences Act 2006 as well as Sections 4(1), 5(1), (b) of the Currency (Special Provisions) Act, Laws of the Federation, 2004.

Olatoye pleaded innocence of the offences.

Counsel to the accused, Oludotun Sotanade, urged the court to grant the accused bail in liberal terms.

In his ruling, the Chief Magistrate, Anthony Araba, admitted the accused to a bail of N250 000 in addition to two sureties in like sum.

Further hearing in the case has been adjourned to Nov. 27.



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