A 40-year-old insurance agent, Faith Iroanusi, who allegedly embezzled N2 million belonging to AIICO Insurance Company, on Thursday appeared in a Tinubu Magistrates’ Court, Lagos.The police charged Iroanusi, whose address was not provided, with stealing and fraudulent conversion of money, to which she pleaded not guilty.
The prosecutor, Insp Ajaga Agboko, told the court that the defendant committed the offence between June 2018 to Feb. 2019 at AIICO Insurance, Victoria Island, Lagos.
Agboko said the defendant embezzled the money customers paid for the company’s services.
He said that Iroanusi who collected the money, failed to remit it into the company account.
The offence, he said, contravened the provisions of sections 287 (7) and 314 of the Criminal Law of Lagos State, 2015; which attracts seven years and 14-years imprisonment respectively.
The Magistrate, Mr T. A. Anjorin-Ajose, admitted the defendant to bail in the sum of N500,000 with two sureties in like sum.
Anjorin-Ajose ordered that one of the sureties must be a relative of the defendant and the other surety a civil servant.
The case was adjourned the case until April 29 for mention.
