Why I Sold N1.6m Car For N100,000 – Businessman

A 35-year-old businessman has confessed before an Abuja Grade 1 Area Court that he sold a Toyota Avalon car given to him to sell at the cost of N1.6million for N100,000 due to financial crisis.

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Suleiman Abubakar of Saburi was sentenced to nine months imprisonment after pleading guilty to a two-count charge of criminal breach of trust and cheating, offences contrary to Sections 312 and 321 of the Penal Code.
The police prosecutor, Lukas Ephraim, told the court that one Mbaocha Godswill of Gbazango extension, complained at the Kubwa Police Station, sometime in February, of how he entrusted his unregistered Toyota Avalon car worth N1, 650, 000 to the accused to sell and remit the proceeds to him.
The prosecutor said the accused, however, gave the car to one Ibrahim and collected the sum of N100,000 as  collateral for a business he had with the said Ibrahim and attempted to deceive him into taking another car, thereby converting the Avalon car to his own use.
According to the prosecutor, when he was accosted by the complainant, the accused could neither produce the proceeds of the car nor the car itself, but confessed to have given out the car for the said amount to enable him settle some financial challenges.
The judge, Mohammed Marafa, sentenced him to nine months imprisonment with an option of N30, 000 fine.
The court also ordered him to pay a compensation of N1, 650, 000.
Similarly, a 27-year-old plumber was sentenced to nine months imprisonment by the same court for receiving stolen property and aiding in concealing them.
Abraham Egwu of old Maitama was convicted of abatement, dishonestly receiving stolen property and assisting in concealing same, offences contrary to Sections 83, 317 and 319 of the Penal Code.
The police prosecutor, Lukas Ephraim, told the court that the accused, who had reason to believe that a laptop and cell-phone were stolen from one Bello Mohammed of Pipeline Area, facilitated the act of dishonestly receiving the said items in a bid to conceal or aid their disposal.
When the charges were read to the accused, he pleaded guilty and was sentenced to nine months imprisonment by the judge, Mohammed Marafa, with an option of N20, 000 fine.

Source: Daily Trust

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