A businesswoman, Oluremi Phillips, has been sentenced to 17 years imprisonment for defrauding AYM Shafa Limited of N57.6 million.
The court found Phillips and her company, Omritas Energy Limited, guilty of fraudulently converting funds intended for the supply of Automotive Gas Oil.
The Economic and Financial Crimes Commission (EFCC) presented evidence that included a dishonoured cheque issued by Omritas Energy from Diamond Bank, which was meant to pay AYM Shafa Limited but bounced due to insufficient funds.
The fraudulent activities reportedly took place in 2016, with the cheque incident occurring on or about April 10, 2017.
Phillips initially faced trial before Justice Sherifat Solebo, but the case was reassigned to Justice Ijelu following Justice Solebo's retirement. On May 22, 2023, Phillips and her company were re-arraigned on five counts of stealing and issuing dud cheques.
Despite pleading not guilty, the prosecution, led by Banjo James, successfully proved their case with testimonies from three witnesses and several documents.
Delivering the judgment on December 12, Justice Ijelu stated, "The court finds Oluremi Phillips and Omritas Energy Limited guilty on all five counts." Phillips received a nine-year sentence or an option to pay a N2 million fine for the first count, and two years each for counts two to five, to run concurrently.
Omritas Energy Limited was fined N250,000 for the first count and N100,000 for each subsequent count.
Furthermore, the court ordered restitution of N57.6 million to AYM Shafa Limited within 90 days. Justice Ijelu warned, "If the restitution is not made, Omritas Energy Limited will be wound up within 90 days."
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