Court Jails Man, Firm 30 Years Over $62,500, €36,020 Fraud in Lagos
Justice Ismail Ijelu orders restitution as convict remanded in Ikoyi Correctional Centre
By Rimawaglobalnews Correspondent
A Lagos State High Court sitting in Ikeja has sentenced one Olumuyiwa Teniola Idowu and his company, Tennyvans Nigeria Limited, to a combined 30 years imprisonment for fraud involving $62,500 and €36,020..
Delivering judgment on Monday, Justice Ismail Ijelu held that the prosecution successfully proved its case beyond reasonable doubt, convicting the defendant on a six-count charge bordering on stealing and failure to declare assets.
The offences were said to contravene provisions of the Criminal Law of Lagos State, 2011, and the Economic and Financial Crimes Commission (EFCC) Act, 2004.
According to court proceedings, the convict dishonestly converted $62,500 meant for the purchase of caterpillar parts, as well as €36,020 for the cost and shipping of a DAF truck, box trailer and two tippers, belonging to a foreign businessman.
Idowu, who was first arraigned on November 27, 2024, had pleaded not guilty, prompting a full trial. During the trial, prosecution counsel, E. S. Okongwu, presented three witnesses and tendered 11 exhibits, all admitted by the court, while the defence called one witness.
In his ruling, Justice Ijelu sentenced the defendant to five years imprisonment on counts one to four, to run concurrently. He was also handed five years imprisonment on counts five and six, with an option of a N1 million fine on each count.
The court further ordered the convict to restitute the sums of $62,500 and €36,020 to the complainant within six months.
Following the judgment, Idowu was remanded at the Ikoyi Correctional Centre.
