Manager arraigned for alleged N199m fraud
A project manager, Olayinka Olafimihan, has been arraigned at the Tinubu Magistrate’s Court in Lagos for allegedly stealing N199 million from a property company, Twins Wild Passion.
Olafimihan was accused of exploiting the good nature and trust of his employer to milk the company. Having entrusted him with everything, Olafimihan’s employer left him to manage the affairs of her company, only to find out he had been defrauding her and abusing his office.
The company said its fortunes and survival are being threatened as the suspect converted the company’s assets to himself in a grand larceny. According to the complainant, the suspect was accused of forging documents to steal cash, building materials and equipment valued at N199,074,880.15 belonging to the firm.
Olafimihan allegedly committed the offence between September 2014 and July 2016 while working as Project Manager of Twin Wild Passion at No. 84, Ozumba Mbadiwe Street, Victoria Island.
Police prosecutor, Goodluck Admoni, said the offence of forgery contravenes Section 361 of the Criminal Law of Lagos State, 2011. Olafimihan is facing a three-count charge bordering on conspiracy to commit felony, forgery and stealing. The defendant pleaded not guilty to all the counts.
The Magistrate, Mrs. Y.O. Aje-Afunwa, granted him bail for N10 million with two sureties each, before adjourning the case till April 5, 2017 for trial.