EFCC Secures Conviction Of Company For Defrauding 8,000 Investors In Ibadan, Osogbo

The  Economic and Financial Crimes Commission, Ibadan Zonal Headquarters has secured convictions of 13 persons including a corporate entity  it charged to different courts in Ibadan and Osogbo, the Osun State capital.

The anti-graft agency said in a  statement on Wednesday that the convictions were secured on Monday at  Federal  as well as State High Courts in the two states.

The Head, Media and Publicity of EFCC, Wilson Uwujaren, have the names of the convicts as:  Abiodun Sowunmi; Adeyemi Hammed; Abeeb Badmus;  Adebayo Saheed; Ganiyu Olawale; Omolade Moses; Taofeeq Atanda; Oyekanmi Oyewale; Alabi Olamide;  B.T.D Multi Global Limited; Adewuyi Adetoun; Owolabi Tolulope and Taiwo Akpoyen.

One of the convicts, B.T.D Multiglobal Limited, was found guilty of counts 1, 2, 3, 4, 5, 6 and 7 preferred against them by the EFCC by Justice Nathaniel Ayo-Emmanuel of Federal High Court, Osogbo.

In December 2017, the Commission said it received a petition alleging  that B.T.D Multiglobal Limited and one Adewumi of fraudulently misappropriating N1billion from about 8,000 investors.

The court, in its judgment ordered the revocation of the certificate of incorporation of the company and ordered that the Corporate Affairs Commission should wind its operations down.

Justice Ayo-Emmanuel ordered that, “The proceeds therefrom, as well as the sum of N32million recovered in the course of investigation, should be used to pay the investors.”

The judge also found Adewumi, who claimed to be 20 year-old and a student of Federal University of Technology, Akure as at the time the offence was committed, guilty of counts 1 and 2 and was slammed with three-year-imprisonment for each of the two counts, to run concurrently.

Justice Uche Agomoh of Federal High Court, Ibadan, found Sowunmi, Olawale, Omolade and Badmus  guilty of  impersonation contrary to Section 22 (2)(b)(1) Cybercrimes (Prohibition, Prevention, Etc) Act, 2015 and punishable under Section 22 (2)(b) of the Act.

Sowunmi and Olawale were sentenced to 10 months imprisonment each, while Omolade and Badmus bagged nine and six months imprisonment respectively.

Justice Ladiran Akintola of the Oyo State High Court, Ibadan, convicted Alabi, Atanda, Oyekanmi, Adeyemi and Adebayo in separate charges of obtaining property by false pretences contrary to Section 419 of the Criminal Code Cap 38 Laws of Oyo State, 2000.

The judge sentenced Alabi to a term of three months community service, while Atanda, Adeyemi, Adebayo and Oyekanmi bagged two months community service each.

The judge  also sentenced Akpoyen to 10 months imprisonment over fraudulent impersonation, while ordering a prison term of six years on Owolabi for impersonation and illegal possession of documents.

The convicts are to  make restitution to  their victims and forfeit the items recovered from them to the Federal Government.