A 37-year-old marketer, Christopher Ugwuegbelam, who allegedly stole his company’s N2 million, was arraigned yesterday in Lagos.
Ugwuegbelam, of No. 8, Ilupeju bye-pass, Ilupeju, Lagos, is being tried for fraud and stealing at an Oshodi Magistrates’ Court.
The prosecutor, Cpl. Kehinde Olatunde, told the court that the accused committed the offences between December 2013 and April 2014 at Oshodi.
He said the accused fraudulently obtained goods valued at N2 million, property of Loyson Investment Nigeria Ltd.
“He collected 801 cartons of Hitecmen Sealant product and 186 pieces of Shooter products, under the pretext of selling and remitting the money into the company’s account.
“The accused, after sales, converted the money into his own use,’’ Olatunde said.
He said the accused was unable to give a satisfactory answer as to why he refused to remit the money into the company’s account.
“The accused could not give a reasonable answer when questioned about the proceeds from the sales of the goods he collected.
“All efforts made by the company to retrieve the money proved abortive,’’ the prosecutor said.
Olatunde said the offences contravened Sections 285 and 312 of the Criminal Law of Lagos State, 2011.
Section 312 prescribes a 15- year jail term as penalty for convicted offenders.
The accused pleaded innocence of the offences and was granted bail in the sum of N200, 000 with one surety in like sum.
The Magistrate, Mr. Akeem Fashola, adjourned the case tillSeptember 26, for mention. (NAN)
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