The Special Fraud Unit of the Nigeria Police Force has re-arraigned a prince of Kweme Land in Badagry, Semasa James, for allegedly defrauding the estate of his late father by leasing out some buildings to Ecobank Plc.
Semasa, who had been earlier arraigned on two counts of stealing and forgery, was re-arraigned alongside one Afolabi Kazeem on Monday before the Lagos State Special Offences Court on seven counts of conspiracy, cheating, stealing, forging of company resolution and fraudulent disposal of trust property.
The duo pleaded not guilty to the charges.
According to the SFU prosecutor, Mr O. O. Olabisi, the prince fraudulently converted N500m property belonging to the late king between 2000 and 2017.
He said, “The defendant had in 2011 forged the resolution of a company called CAJ Industrial Enterprises, dated November 28, 2011.