Sales rep in court for defrauding firm

Musa Adebayo, a former sales representative of May and Baker Pharmaceutical Company, located at No. 3/5, Sapara Street, in the Ikeja area of Lagos, was on Tuesday, arraigned at the Ikeja Magistrates Court, for allegedly defrauding the company of N2.5m.The police prosecutor, Rosemary Ehimagbe, said the accused, who had been at large, fraudulently converted the money realised from the sales of drugs worth N2.5m to his own use, between April 30, 2009 and April 30, 2010.Ehimagbe said the offence contravened Section 383(1) (2a) and was punishable under Section 390(6)(9) of the Criminal Code Cap C17, Vol. II, Laws of Lagos State of Nigeria, 2003.Adedayo, 36, who is standing trial on a one-count of fraud, however, pleaded not guilty when the charge was read to him in court.His lawyer, Mrs. Comfort Okolie, requested that the accused be granted bail because there was already a contract agreement between him and the pharmaceutical company.Okolie said the drugs could not be sold, as they had expired, but the company insisted that he paid back the said sum. She added that the accused had promised to pay the money on monthly instalments in the sum of N100,000 whenever he got another job.He got a job with the Ogun State Government and had appealed to the company to give him two months to settle into his new job, before he commenced the payment of the money. But unfortunately, he lost the job after the last gubernatorial election because the new government in the state cancelled all previous employments, and he informed the management of the company about the new development, she stated. Ehimagbe however countered the lawyers statement that the drugs had expired, saying that the accused did not return the supposed expired drugs back to the company.The Magistrate, Mrs. T. Akanni, in her ruling granted the accused bail in the sum of N500,000 with two sureties paying N250,000 each.She added that the sureties must be gainfully employed and must produce evidence of tax payment.The case has been adjourned till February 10, 2012 for further hearing.
Click here to read full news..