Two property developers, Msheilia Julius Silas and Sabo Mohamed Jimeta have landed in hot waters, in Lagos.
They were arraigned for allegedly swindled a Nigerian businessman, Abubakar Baba Zango to the tune of N800 million.
The two property developers were dragged before a Federal High Court in Lagos by the Special Fraud Unit of the Nigeria Police Force, Milverton Ikoyi, Lagos.
The presiding Judge Nicholas Oweibo, listened to the bail argument.
Also arraigned alongside the two defendants was a limited liability company, Jitau Investment Limited, alleged to have been used to perpetrate the fraud.
When the charge was read to them, they pleaded not guilty, consequently, a senior police legal officer, Emmanuel Jackson, leading another police Lawyer, Justice Enang, urged the court to remand them in correctional centres, while a trial day should be fixed.
However, the defence counsel, Chief Joe Kyari Gadzama, leading Oluniyi Adediji and four other lawyers, urged the court to admit the defendants to bail, but the Police prosecutor, Jackson opposed the bail application.
After listening to the argument of the two parties, Gadzama for the defendants and Jackson for the prosecution, the presiding Judge, Nicholas Oweibo, admitted the defendants to bail in the sum of N500 million with one surety in like sum.
The surety must be a property owner within the jurisdiction of the court.
