It was learnt that the syndicate, which consists of 11 members ─ nine women and two men ─ had their office on Lambe Street, off Agbado Road, Lagos State.
They were said to have collected deposits from the residents of the Agbado area between March 10, and April 2015.
The suspects’ names were given as Abraham Adenike (28), Ganiyat Ganiyu (25), Aminu Feyishara (22), Aminat Adeladan (28), Omolola Adeloye (40), Mariam Badru (50), Edunjobi Mutiu (40), Adeleke Kofofworola (30), Williams Oluwatoyin (46), Olabisi Lasisi (38) and 58-year-old Adewole Adeniyi.
Using the name Adlaw Cooperative Credit and Thrift, the defendants were accused of luring the victims, most of who were said to be traders, with a promise to give them big loans.
Our correspondent learnt that the cartel, in a desperate bid to hoodwink the traders, allegedly used fake documents, detailing its mode of operation.
Their ploy, it was said, became known when one of the victims got information that the operators were not what they pretended to be.
The victim was said to have mobilised other depositors and approached the syndicate, demanding their contributions.
The meeting reportedly turned violent when the defendants could not refund the deposits. It took the intervention of policemen from the Ijaiye-Ojokoro Police Division; the monarch of Ojokoro, Oba Rilwan Oluwalambe; and the Chairman, Community Development Committee of the Ojokoro area, Alhaji Hamzat, to pacify the depositors.
The syndicate members were eventually arrested and arraigned before the magistrate, Mrs. O.A. Olayinka, on 11 counts bordering on fraud and conduct likely to cause a breach of the peace.
The charges read in part, “That you, Abraham Adenike, Ganiyat Ganiyu, Aminu Feyisara, Aminat Adeladan, Omolola Adeloye, Mariam Badru, Edunjobi Mutiu, Adeleke Kofoworola, Williams Oluwatoyin, Olabisi Lasisi, Adewole Adeniyi and others now at large, between March 10, 2015 and April 2, 2015, at about 8am and 4pm on Lambe Street, off Agbado Road, Ijaiye-Ojokoro, Lagos, in the Ikeja Magisterial District, did conspire to commit felony by false pretences and obtaining the sum of N2,494,500 property of one Amidat Oloyede, Nwafor Oluwaseun, Akintude Waliyu, Michael Ediaghe and 73 others, by presenting yourselves as Adlaw Cooperative Credit and Thrift that gives loan facilities to traders.
“That you, and others now at large, on the same date, time and place, in the aforementioned magisterial district, did conspire to commit misdemeanour to wit; possession of fraudulent documents.”
The accused persons, however, pleaded not guilty to the charges, which according to the police, are punishable under sections 409, 312 (1a), 323 (i), 285 (9B), 410, 318, 364 (i) and 166 (D) of the Criminal Law of Lagos State of Nigeria, 2011.
Olayinka, who stood in for her colleague, Mrs. T. Akani, admitted the defendants to bail in the sum of N1.5m with two sureties each in like sum.
The case was subsequently adjourned till May 28, 2015.
- Punch
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