A 32-year-old businessman, Usman Alhassan Bako, has been arraigned before a Magistrate’s Court in Life Camp, Abuja, over alleged criminal breach of trust, cheating and criminal misappropriation in a property transaction involving N85 million.
The police alleged that Bako introduced himself as the son of the owner of a five-bedroom duplex with boys’ quarters at Brains and Hammers Estate, Life Camp, and subsequently negotiated the sale of the property with the complainant, Isa Umar of Phase 2, Site II, Kubwa.
According to the police report, Umar entrusted Bako with N85 million through a Jaiz Bank account for onward payment to the property owner.
The police alleged that Bako paid N20 million to the property owner but converted N50 million to his personal use without the knowledge or consent of the owner.
The report further stated that Umar subsequently paid an additional N15 million directly to the property owner.
Following a complaint, Bako was arrested and subsequently charged before the court.
In his ruling, the magistrate, Ibrahim Jobbo, granted Bako bail in the sum of N500,000, with one surety in like sum.
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