Home » News » Man jailed in Lagos for 168 years for N2.5M fraud

Man jailed in Lagos for 168 years for N2.5M fraud

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A judge at Lagos High Court in Ikeja, on Monday sentenced a middle aged man, Olaolu Salau, to 168 years imprisonment with hard labour being seven years for each count for a 24 count charge.

Salau was imprisoned for defrauding a Lagos based businessman, Solomon Ayoola, of the sum of N2. 5 million.

He gave the verdict following� a� plea-bargain arrangement between Salau and the Economic and Crimes Commission (EFCC).

The court, in sentencing Salau after he pleaded guilty to an amended� 24-count charge� preferred against him by the anti-graft agency, ordered� that the convict serve seven years each for the 24-count at� Kirikiri Prisons in Lagos.

The judge while reading through the plea bargain agreement filed in line with the Lagos State criminal justice procedure law 2011, however ordered that the sentence� run concurrently starting from December 11, 2007 being the date he was arrested by the EFCC.

Salau was also ordered to pay restitution in the sum of N2.5 million to the victim and he has already paid the sum of N400,000 to the EFCC.

The judge ordered that he should pay the money within a year from his release from prison and should also be used as a prosecution witness against the remaining� defendants.

Salau was arraigned with four others on allegations of conspiracy and defrauding one Solomon Ayoola at different times to the tune of N2.5 million by claims of being capable of increasing the said amount through the invocation of invisible entity

According to the charge dated May 6 and filed on May 7, 2013� by the EFCC ,� the convict was charged with� conspiring with four others with intent� to defraud the businessman between June and November 2006 of various sums of money.

The� offence, the anti-graft agency� said,� contravened� section 419 of� advanced fee fraud and miscellaneous� offences .

According to the prosecution, the commission had in September 2007, received a petition from one Solomon Ayoola alleging the case of fraud of obtaining money by false pretence.

The Prosecution said� investigation by the commission revealed a fraud totalling the sum of� N2.5m at various times between June and November 2006.

This,� the prosecution said� necessitated the filing of a 24-count charge , one on conspiracy and� 23 others bordering on advanced fees fraud and� obtaining money by false pretence.

The� defence’s� statement was also admitted� as exhibits by the former trial judge.

But during the course of trial, the convict, who has been in custody for seven years, wrote to the EFCC for a plea bargain arrangement which necessitated his plea of guilt.

Meanwhile, the other three defendants, Akinsowon Olufemi, Adebisi Adewale, Muyiwa Ayeni� arraigned with the convict had maintained their plea of innocence and were remanded in Kirikiri Prisons custody till July 22, 2013 when their case is scheduled for trial

Source: Tribune

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