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Court jails firm’s boss 16 years for operating without licence

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Federal High Court, Lagos, yesterday convicted and sentenced a Lagos businessman, Adeloye Olukemi and his firm, AG Moeller Nigeria Limited, to 16 years imprisonment.

Justice Okon Abang of the Federal High Court, Lagos, yesterday convicted and sentenced a Lagos businessman, Adeloye Olukemi and his firm, AG Moeller Nigeria Limited, to 16 years imprisonment.

Olukemi, who is the managing director of the firm, was convicted for operating a financial firm without a valid Central Bank of Nigeria (CBN) licence.

Both convicts were arraigned before the court on a five-count charge bordering on conspiracy, felony, fraud and operating financial business without a valid CBN licence.

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Justice Abang, in his judgment, held that the prosecution had proved its case beyond reasonable doubt and found the convicts guilty of all the charges preferred against them.

The court slammed one year jail term on Olukemi on count one, three years on count two, seven years on count four and five years on count five, making it 16 years imprisonment while on count three, AG Moeller Nigeria Limited was ordered to pay a fine of N1 million to the Federal Government.

The court also ordered the company to refund N80 million to Cross Country Limited.

Olukemi and AG Moeller, pleaded not guilty to the charges.

All the jail terms will run concurrently from the day of judgment.

In another development, the Federal High Court sitting in Benin City, Edo State, has convicted Mrs. Oluwalusi Kikelomo.

In a statement by the Acting Spokesman to the EFCC, Tony Orilade, yesterday, Oluwalusi was arraigned by the agency before Justice M. G. Umar on a one-count charge of stealing and obtaining by false pretence.

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According to Orilade, upon her arraignment, Mrs. Oluwalusi pleaded guilty to the charge and based on a plea-bargain arrangement between the prosecution counsel and the defence counsel, she was convicted and sentenced to six months imprisonment.

All assets recovered from her as proceeds of crime are to be forfeited to the victim.

In the same vein, the judge also convicted and sentenced one Ezean Chukwuebukai Lawrence to two months imprisonment for fraudulently obtaining N168,000.00 from the bank account of one Okosun Christiana.

The defendant, pleading guilty to the charge, was sentenced to two months imprisonment and he is to make restitution to the victim.

Also convicted was Magbo Chukwujekwu Hillary, who was sentenced to two months imprisonment for fraudulently obtaining N160,000 from the bank account of one Okosun Christiana.

The court also ordered that all assets recovered from the defendant as proceeds of crime be forfeited to the victim through the Federal Government of Nigeria.


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