By Deborah Nnamdi
The Police Special Fraud Unit (SFU), on Friday, arraigned a businessman before a Federal High Court sitting in Lagos for alleged N14.7 million fraud.
The defendant, Abdullahi Mohammed, pleaded not guilty to the three-count charge bordering on conspiracy and cybercrime.
The prosecutor, Justine Enang, told the court that the defendant committed the offence in June, within the Lagos division.
Enang alleged that the defendant conspired with others now at large, with intent to defraud, to obtain the sum of N14.7 million.
According to Enang, the defendant was alleged to have knowingly caused financial loss to Parallex Bank Ltd., by suppressing credit entries and other data held in a Point of Sale (POS) machine.
Mohammed was alleged to have done so in his capacity as an agent of the bank and had directly or indirectly taken possession of funds belonging to the bank.
The prosecutor said that he ought to have known that the funds formed part of the proceeds of an illicit act.
He said the offence contravenes the provisions of section 14(1) and 18(3) of the Cybercrime Act 2015 as amended in 2024.
Justice Lewis Allagoa, adjourned the case until Nov. 19, for hearing of the bail application, reported NAN.
