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Lagos News Update: Woman arraigned for N3m Fraud
The accused is alleged to have collected the money under false pretencesArticle | October 12, 2011 – 4:04pm 
Oct 12, 2011 – A 50-year-old woman was on Tuesday arraigned before a Yaba Magistrate court for allegedly defrauding her victim of N3million.
The accused, Olufunmilayo Ayinke is standing trial before Magistrate Aka Bashorun on a two-count charge of fraud and stealing.
The police prosecuting officer, Inspector Phillip Ugbodu, told the court that the accused had, on June 6, collected N3million from one Jeff Nwabueze on the pretext of selling a landed property situated at Ayobo, Lagos to him.
Ugbodu alleged that the accused stole the amount from her victim, having obtained the sum without giving him the property.
According to him, the alleged offence contravened sections 390(9), and 419 of the Criminal Code, Laws of Lagos State.
Olufunmilayo pleaded not guilty to the charges.
The Magistrate granted the accused bail conditioned upon the payment of N1million and the guarantee of two sureties in like sum and adjourned the case to October 24 for further hearing.
