An Ilorin Magistrates’ Court on Tuesday ordered the imprisonment of two men, identified as Olakunle Salako and Ibrahim Akinbode, for allegedly operating fake cooperative society locally called (Esusu), with intention to defraud unsuspecting investors.
The defendants were docked on a three-count charge of criminal conspiracy, forgery and obtaining money under false pretences.
The Judge, Mr Jubril Salihu, declined to take the petitions of the defendants as the court lacks the jurisdiction to hear the cases.
Salihu directed that the defendants be remanded at the Federal Prison, Ilorin and adjourned the case until October 30th for further mention.
The prosecutor, Inspector Abdulkadir Jimoh, told the Court that the defendants allegedly deceived depositors within Jebba and Bode-Saadu, Kwara, to operate accounts with unregistered cooperative society.
“The accused persons conspired with others now at large to fraudulently open and operate an illegal cooperative society, opposite Jebba Motor Park, Kwara,’’ he said.
The prosecutor said that the defendants and others still at large, made away with over N7 million deposited by contributors.
Inspector Jimoh said that the offences contravened the provisions of Sections 97, 364, of the Penal Code, and 366 (3) of Advance Fee Fraud and Other Fraud Related Offences, Act 2006.