Lagos – Justice Saliu Saidu of a Federal High Court on Monday in Lagos remanded a 38-year-old company’s CEO, Emmanuel Lawrence, at Ikoyi Prisons over alleged N95 million fraud.

The accused, who is the Managing Director of DM Auto Company Ltd, is standing trial on a two-count charge of fraud and issuance of dud cheque.

He, however, pleaded not guilty to the charges.

The prosecutor, Mr Olakanmi Omisope, told the court that the accused committed the offences between February 2008 and March 2011.

Omisope said the accused allegedly obtained about 14 Mitsubishi vehicles from one Kelwaram Chanria Group valued at N95 million on the pretext of supplying the vehicles to the Akwa Ibom Government.

He alleged that the accused issued a N95 million cheque to Kelwaram Group.

“The cheque was dishonoured on presentation at the bank due to insufficient funds in his account.”

Omisope said the offences contravened the provisions of Sections 1(1), (a), 2, and 3 of the Advance Fee Fraud and other Related Offences Act, 2006.

Saidu adjourned the case to June 26 for hearing of the prosecutor’s bail application for the accused.

– NAN