A Special Offences Court sitting in Ikeja, Lagos, heard on Tuesday how suspected serial fraudster, Fred Ajudua, defrauded a German car dealer, Mr. Michael Kramer, of $550,000 about 25 years ago.
Ajudua and his accomplice, Joseph Ochunor, are facing a 12- count charge of fraud and conspiracy before Justice Mojisola Dada.
Kramer, 67, a resident of Schlusta, Germany, who is the first prosecution witness, told the court how he was allegedly swindled of $550,000 by Ajudua.
According to him, he lost his house and business while his wife divorced him when he could no longer provide for her and their children.
The witness, who spoke through an interpreter, Ms Damilola Adewale, a staff of the German Consulate, told the court that Ziad Abu Zalaf was a customer to his company where he once sold exotic cars.
Led in evidence by the lead prosecuting Counsel of the Economic and Financial Crimes Commission (EFCC) , Seidu Atteh, the German said he met Zalaf sometimes in 1980 when he came to buy car from him.
Kramer added that after the transaction, Zalaf bought cars from him regularly and the development strengthened their business relationship.