On February 19, 2018, Ekwunife and his company were charged with eight amended counts of theft by fraudulent conversion in violation of sections 278(1)(b), (2)(f), and 285(1) of the Lagos State Criminal Code Law of Nigeria from 2011. The prosecutor for the Economic and Financial Crimes Commission is Emeka Okeogwu. The accusation stated, in part, that Chukwuemeka Ekwunife and Structured Energy Limited "dishonestly converted to your own use the sum of N85,000,000 paid to you by M.R.S. Oil and Gas Company Limited, property of Nepal Oil and Gas Limited" on or about the 4th day of June 2015 in Lagos, within the Lagos Judicial Division.
The defendant entered a not guilty plea to each charge, which signaled the start of his trial. Okeogwu called six witnesses and presented a number of documents during the trial to support the prosecution's case. In addition to disputing the accusations against him, the defendant entered the witness stand to provide a defense testimony. The defendant was found guilty on counts one through six by Justice Solebo, and he was given a concurrent 10-year sentence on each count.
After hearing the defense's allocutus, she commanded that his company be shut down and gave him the option of paying a fine of N50 million.
"It is apparent that numerous fraudulent operations are being performed by some individuals who are exceedingly avaricious and utilizing the guise of oil subsidy on imported fuel to cheat the country, as well as destroying the reputation of Nigeria overseas," Justice Solebo stated. The gains and losses will stay the same.
#trnding #businessman #60 years in prison #lagos court
Comments
Post a Comment