SHOCKING: Popular Company Director Nabbed For Rice Fraud

The Lagos State Criminal Investigation Department has taken the Director of Twinbel Investment Nigeria Ltd, Idris Gbadamosi, before an Ebute Meta Magistrate’s Court for allegedly defrauding Merenello Commodities Ltd of N20, 450,000.


The sum is for 12,500 bags of rice which the defendant allegedly took from the company between January and October 2013, without paying.

Gbadamosi, 39, who resides on Taylor Rd., Iddo, Lagos, was said to have been a business partner with Merenello Commodities.

The foodstuff merchant was said to have issued dud cheques at various times to the company in exchange for the bags of rice supplied to him.

According to the police prosecutor, Inspector Asu Feddy, the defrauded company decided to severe business relationship with the defendant.

Asu said, “These two were business partners until a change was noticed in his mode of business and payment.

“On several occasions, he issued dud cheques from UBA with serial no 46527281, 46527233; First Bank, with leaflet serial no Hc01276343, Hc01276333, and Diamond Bank leaflet with serial no 45618412.”

He was arrested and arraigned on seven counts of conspiracy and obtaining under false pretence.

The prosecutor said the offences were punishable under sections 313 and 409 of the Criminal Law of Lagos State, 2011.

The accused, however, pleaded not guilty and elected summary trial.

His defence counsel asked for his bail in liberal terms; Asu did not object to the bail application.

The Magistrate, Mr E.O Ogunkanmi, admitted Gbadamosi to bail in the sum of N2m with two responsible sureties in like sum.

“The sureties must be gainfully employed, and residents in Lagos and should show evidence of tax payment. Their addresses and means of livelihood should be properly verified,” he added.


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