A 37-year-old businesswoman, Eloho Oyinvbi, who allegedly defrauded her business partner of N1.9 million on Tuesday appeared in an Ikeja Magistrate Court.
The police charged Oyinvbi, who resides in Festac, Lagos, with two counts of obtaining money under false pretenses and theft.
The prosecution counsel, Emmanuel Ajayi, told the court that the defendant committed the offence in May 2020 at Olusosun in Ojota, Lagos.
He alleged that the defendant fraudulently obtained N1.9 million from one Michael Okome, to invest in Cryptocurrency, a representation, she knew to be false.
The offence, the prosecutor said, contravened the provisions of sections 287 and 314 of the Criminal Law of Lagos State, 2015.
The defendant pleaded not guilty to the offence.
Section 287 prescribes three years’ jail term for stealing while section 314 attracts 15 years for obtaining money under false pretenses.
Magistrate O. S. Odusanya admitted the defendant to bail in the sum of N500,000 with two sureties in like sum.
Odusanya adjourned the case until Jan. 11 for mention.