The Police Force 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 at Court 4, before Magistrate Mojisola Salau at the Yaba Magistrate in Lagos State as they faced two count charges of stealing and diversion of fund.
They were granted bail in the sum of N10 million naira with two surety in the like sum, while their case was adjourned till September 3, 2024 for continuation of the case hearing.
Now remanded at the force Criminal Investigation Department (ForceCID) Annex, Alagbon-Ikoyi, Lagos to meet the bail terms, the duo were alleged to have taken money from the company’s account to their personal accounts and those of their cohorts who are now at large.
In a document signed by 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 charge partly read: “That you, Ishola Mubarak Babatunde , Ishola Rasheed Bayo, and others now at large , between the years, of 2020 to 2023, at LOTGRAND LTD, a registered lotto company in Lagos, within the magisterial district of this Honourable Court, conspired amongst 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 force said: “That you, Ishola Mubarak Babatunde and others now at large, on same date, place and within the magisterial district of aforementioned, did stole the sum of Seventy-Five Million Naira (N75,000,000) property of LOTGRAND LTD, Lagos, while you served as the Account Officer, as you dishonestly and fraudulently diverted the said sum belonging to LOTGRAND LTD, 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,” it said.
