The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC), based on Awolowo Road, Ikoyi, has arraigned one Ntai Bagshaw and his company, Terraworks Limited, before Justice I.O. Ijelu of the Lagos State High Court sitting in Ikeja over alleged N70 million fraud.
According to a statement issued by the commission via its official X handle on Friday, Bagshaw and his company are facing a two-count charge bordering on obtaining money under false pretence and stealing.
One of the charges reads:
“That you, Ntai Bagshaw and Terraworks Limited, sometime in December 2021 at Lagos, within the jurisdiction of this Honourable Court, dishonestly converted to your own use the sum of N70,000,000.00 being payment for a detached duplex located at Ogudu GRA, Lagos State.”
The defendant pleaded not guilty to the charges when they were read to him in court.
Following his plea, prosecution counsel F.T. Giwa requested a trial date and prayed the court to remand the defendant in a correctional facility.
Justice Ijelu subsequently adjourned the case to May 13, 2025, for the hearing of the bail application and commencement of trial. He also ordered that Bagshaw be remanded in a correctional centre.
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