Madu is alleged to have collected N250,000 from Mr. Uche Eke, a student, as a loan to clear two million dollars (about N300 million) purportedly in Fidelity Bank, for the building of his church.
The prosecutor, Insp. Moses Uademevbo, told the court that Madu unlawfully obtained N250,000 from Eke with a promise to refund the money.
He said that the accused promised the complainant that he (Madu) would refund the N250,000 after clearing the two million dollars in the bank.
“Madu did not pay back the debt but kept making promises, which turned out to be a trick,” he said.
The prosecutor said that the incident occurred on May 16, 2010 at 103, Awolowo Road, Railway Compound, Ebute Meta, Lagos.
He said the offence contravened Sections 390 (9), 419 and 516 of the Criminal Code, Laws of Lagos State, punishable with seven years imprisonment on conviction.
The accused pleaded not guilty and was granted bail in the sum of N50,000, with one surety in like sum.
The magistrate adjourned further hearing in the case till March 21.
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