The police on Friday arraigned a 40-year-old car dealer Emmanuel Onyeador in Igbosere Magistrates’ Court in Lagos for allegedly stealing five cars valued $37,896 (N13million) entrusted in his care to sell by the complainant, Anphonus Lewis.
Mr Onyeador is being accused of conspiracy, fraud and stealing.
Police counsel George Nwosu informed the court that the accused committed the alleged offence in year 2011 in Lagos.
Mr Nwosu told the court that the complainant reported that he entrusted five vehicles to the accused as car dealer with the agreement to sell them, make profit and remit the proceeds into his account, but he was shocked that the accused sold all the vehicles and allegedly converted the proceeds to his use.
The complainant further stated that he reported the matter to the police when the accused failed to refund the proceeds from the sold vehicles to him since 2011, Nwosu added.
The police counsel also said that the offences committed by the accused were punishable under sections 409, 312 and 285(9)(a) of the Criminal Laws of Lagos State 2011.
The accused pleaded not guilty to the alleged crime.
Chief Magistrate Folashade Botoku admitted the accused to bail in the sum of N2million with two sureties in like sum
Mrs Botoku adjourned the case until January 29, 2019 for mention.
