Police arraign father, son over alleged N75m fraud

By Lukman Olabiyi

The Lagos State Police Command has arraigned a 31-year old man, Ishola Mubarak Babatunde, and his father, Ishola Rasheed Bayo, 55, for stealing N75 million belonging to their employer,  Lotgrand Limited.

The defendants were arraigned on June 27 before the Lagos State Magistrates’ Court, Yaba, on two-count charge of stealing and diversion of funds.

The defendants, however, pleaded not guilty to the charge, and were granted N10 million bail with two sureties in the like sum. According to the police prosecutor, Mike Enejere, the first defendant, Babatunde, served as the account officer for the Lotgrand, a registered lotto company in Lagos, adding that the fund was diverted between 2020 and 2023.

The two count-charge read: “That you, Ishola Mubarak Babatunde, Ishola Rasheed Bayo, and others now at large, between 2020 and 2023, at Lotgrand Limited, a registered lotto company in Lagos, within the magisterial district of this Court, conspired among yourselves to commit felony to wit; stealing.

“You thereby committed an offence punishable under section 411 of the Criminal Law of Lagos State 2015.”

On the second count, the police said: “That you, Ishola Mubarak Babatunde, and others now at large, on same date, place and within the magisterial district of aforementioned, did stole N75,000,000, property of Lotgrand Limited, Lagos, while you served as the Account Officer, as you dishonestly and fraudulently diverted the said sum belonging to Lotgrand Limited, a registered lotto company, to your personal account and that of your cohorts.”

“You hereby committed an offence punishable under Section 287 (8) of the Criminal Law of Lagos State 2015,”.

Magistrate, Mrs Mojisola Salau, has adjourned till September 3, 2024, for further hearing.