Lagos, Sept. 30, 2025 (NAN)Ā A 27-year-old man, Kingsley Ighodalo, was on Tuesday arraigned before an Ogudu Magistratesā Court for allegedly defrauding a company of a Mercedes-Benz valued at N40 million.
He is facing a three-count charge bordering on conspiracy, obtaining by false pretence and stealing.
The prosecutor, Insp Donjour Perezi, told the court that the defendant committed the offences on May 22, 2024, at about 11.30 a.m., within the Ikeja Magisterial District.
Perezi alleged that the defendant fraudulently obtained a 2016 Mercedes-Benz GLE 400, with registration number BDG 390 HA, valued at N40 million.
He said the defendant acquired the vehicle on loan from Auto Check Company under the false pretext of repayment.
He said that instead of making repayment, Ighodalo allegedly removed the vehicleās tracker and sold the car for N38 million without the companyās consent, though the original documents were with Auto Check.
The prosecutor added that several attempts by the company to repossess the vehicle failed, which led to a petition to the police.
He said the offences contravened Sections 314, 287 and 411 of the Criminal Law of Lagos State, 2015.
Magistrate Mrs S.K. Matepo granted the defendant bail in the sum of N10 million with two sureties in like sum and adjourned the case until Oct. 13 for mention. (NAN)
