JUST IN: Popular business man bgs seven years jail term for N12.5m fraud
The Federal High Court sitting in Benin City has convicted and sentenced a businessman, Olabinjor Ajobor, to seven years imprisonment for duping one George Ezomo of 12.5 million naira.
This was disclosed in a statement by the Economic and Financial Crimes Commission, obtained by our correspondent on Tuesday.
According to the EFCC, Ajobor was jailed on Tuesday with an option to pay the sum of N500,000 as an option of fine and N12.5m to the victim.
Ajobor was first arraigned in 2018 before being re-arraigned in July 2023 on an amended three-count charge of obtaining by false pretense.
According to the statement, the presiding judge, Justice Chuka Obiozor noted that the prosecution had proven the three-count charge of fraud against Ajobor.
The charge read, “That you OLABINJOR AJOBOR and BISOFRANK INVESTMENT LIMITED on or about the 21st day of February 2017 in Benin, Edo State within the jurisdiction of this Honorable did with intent to defraud induced one Mr. George Ezomo to deposit the sum of Six Million, Two Hundred and Seventy Naira(N6,270,000) through Mr. Michael Ezomoghene into Account No: 1771641039 domiciled in Skye Bank Plc operated by you with the pretence that the said money was an investment in 66,000 litres supply of Low Pour Fuel Oil (L.P.F.O) from Petroleum Pricing Marketing Company (PPMC) with a share of 60% of the profit to him, which pretence you knew is false and thereby committed an offence contrary to Section 1(1) (c) of the Advance Fee Fraud and Other Fraud Related Offences Act 2006 and Punishable under Section 1(3) of the same Act.”
During the trial, according to the statement, the prosecution called three witnesses who testified as to how the defendant committed the offence and tendered several documents as evidence.
Delivering her judgment, Justice Chuka Obiozor said the prosecution counsel, Elodi proved her case beyond reasonable doubt, convicted, and sentenced the defendant to seven years imprisonment without an option of fine. However, the defendant is to be released from prison if he pays the victim the sum of N12.5 million and pays a fine of N500,000 to the Federal government of Nigeria.
The judge reportedly ordered that the second defendant, Bisofrank Investment Limited company, be closed down.
