The operatives of the State Security Service (SSS), Monday, arraigned two men, Abiodun Ayomide Matthew (24) and Alogba Olayinka Yusuf (32), before a Magistrate court sitting in Osogbo, Osun state, for operating ‘illegal and unregistered forex businesses’ called ‘D-Delight Binary and Forex Investment Company Ltd and Alatmax.
The defendants were alleged to have obtained N4.4million from one Atilola Adeleke and also defrauded one Akintifonbo Tejumola to the tune of N1.480million.
According to the prosecutor, B. O. Nweke, the defendants committed the purported crime between October and December, 2020 in Osogbo.
The alleged offences, according to the charge sheet, were contrary to and punishable under Sections 516 and 419 of the Criminal Code Cap 34, Volume II, Laws of Osun state of Nigeria, 2002.
However, the defendants pleaded not guilty to the allegations of conspiracy and fraud preferred against them.
Their counsel, Bola Abimbola-Ige, noted that the essence of bail is to secure the attendance of the defendants in court, and urged the court to grant them bail pending the determination of the allegation against them.
He noted that the offence is not a capital one, therefore, they are bailable.
The Magistrate, M.A Olatunji, granted the defendants bail in the sum of N2million with two sureties in like sum.
He said one of the sureties must be a civil servant in not less than level 14 and the two of them must produce three years tax evidences.
Magistrate Olatunji thereby adjourned the trial to January 27, 2022.
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