Jim Iyke, a Nollywood Star, was on Thursday arraigned before an Abuja Chief Magistrates’ Court charged with N15 million fraud.
The Police Prosecutor, Mr Chijoke Okezie, told the court that on Aug. 8, Habiba Abubakar wrote a petition to the Inspector General of Police (IG) to investigate the fraud.
He said that investigation into the case revealed that the accused, a resident of Sunnyville Estate, Abuja, deceived Habiba into acquiring 15 per cent equity shares to the tune of N15 million from his company, Untamed Records Ltd.
Okezie said the accused admitted that the complainant paid the money into his Oceanic Bank account No. 00500173691, deviating from his initial plan of investment and converted the money to his personal use.
He added that when the complainant confronted the accused, he resorted to beating her and then threatened to kill her.
Okezie said the accused was charged with criminal breach of trust, criminal force, assault, cheating and criminal misappropriation.
The accused pleaded not guilty to the charges and got bail on liberal terms and self recognition, on the condition that he won’t jump bail.
Chief Magistrate Okeagu Azubike, said that the bail application had merit and granted the accused bail in the sum of N500,000 with two sureties in like sum.He ordered that the sureties must be responsible Nigerians who must reside within the jurisdiction of the court.
He adjourned the case to Dec. 9, to enable the police complete their investigation