An insurance agent, Adeniyi Oladiti, was on Tuesday arraigned in a Grade I Area Court in Karu, Abuja for allegedly swindling his client of N1.51 million.
The police charged Oladiti, 44, who resides in Dawaki area of Abuja with criminal breach of trust by servant, cheating and forgery.
The Prosecution Counsel, Mr Ade Adeyanju, told the court that the defendant committed the offence sometime in 2022.
Adeyanju said sometime in 2020, the complainant engaged the service of the defendant, an employee of Leadway Insurance Company located in Wuse II to collect pension retirement funds.
He said the complainant discovered in 2021 that the defendant converted N1.51million to his personal use without remitting them to the company account.
Adeyanju said when the complainant demanded for his statement of account, the defendant printed and presented a statement which the company discovered was a forged.
During police investigation, he said, the defendant confessed to the crime and the said money was yet to be recovered.
The offence, he said, contravened the provisions of sections 314, 322 and 364 of the Penal Code.
The defendant pleaded not guilty to the charge.
The Judge, Malam Umar Mayana, granted the defendant bail bond of one fifth of the amount involved with two reasonable sureties in like sum.
Mayana ordered that the sureties must provide a valid Identification card, a certified statement of account and address verified by court staff.
He also ordered that the sureties must deposit one third of the amount involved at the court registry.
The judge adjourned the case until July 7, for hearing.
