Businessman bags seven-year jail term for $247k fraud

The Lagos State Special Offences Court sitting in Ikeja, Lagos, has convicted and sentenced a businessman, Kingsley Obasi, to seven years imprisonment for a $247,390 fraud.

The Economic and Financial Crimes Commission (EFCC) Lagos Zonal Directorate 1, arraigned Obasi, alongside his company, Great King Parkson Industrial Company, on February 22, 2023, on a one-count charge bordering on stealing, contrary to Section 287(9)(b) of the Criminal Law of Lagos State, 2011.

The EFCC via its Xhandle on Thursday announced the judgment conviction delivered by Justice Mojisola Dada.