Monday, April 30, 2018
SON OF FORMER GOVERNOR ARRAIGNED IN COURT OVER N40M FRAUD (PHOTO)
Akinkunle Olunloyo, the son of a former governor in the South West, has been brought before a Lagos Magistrates’ Court in Igbosere over alleged N40 million fraud. Olunloyo, 40, a former night club owner, was charged alongside his entertainment firm, Code Media Limited, by the Police Special Fraud Unit, (PSFU), Lagos.
They are standing trial on a two-count charge of conspiracy and fraud, before Chief Magistrate O. O. Oshin.
Prosecuting counsel, Sylvester Azubuike, told the court that Olunloyo committed the offences “in Lagos sometime in November 2014 in connivance with accomplices, who are now on the run.”
He said the defendants approached a financial institution for a loan facility and with intent to defraud obtained the sum of N40million from the complainant.