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On Thursday, the actor, who was in the news recently for acquiring multi-million naira autos, was arraigned before an Abuja Chief Magistrates’ Court charged with N15 million fraud.
"Breaking News: Nollywood actor Jim Iyke is being accused of fraud."
And during investigation, they discovered that the actor deceived Abubakar into acquiring 15 per cent equity shares to the tune of N15 million from his company, Untamed Records Ltd.
The police said that Jim has admitted that the money was truly paid into his Oceanic Bank account No. 00500173691. And the police claimed that the money has since been used by the actor for personal matter instead of for the initial plans.
The police also said that when Abubakar confronted the actor, he beat her up and threatened to kill her.
Jim Iyke is now being charged with criminal breach of trust, criminal force, assault, cheating and criminal misappropriation which contravened sections 312,265,322 397 and 309 of the Penal Code.
The actor pleaded not guilty to the charges.
His lawyer, Esther Uzoma, made an oral bail application for the accused in pursuit of section 341(2) of the Criminal Procedural Code.
She prayed the court to grant the accused bail on liberal terms and for self-recognition, and promised that the accused would not 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 the 9th of December 2011.
It’s seems to us like love story gone sour.
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