Businessman Bags 10-Year Jail Term For Fraud

A Lagos businessman, Okoro Samuel Uchechukwu, has been sentenced to 10-year imprisonment for fraud.

Uchechukwu, who was convicted by the Economic and Financial Crimes Commission, EFCC, was arraigned before Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos.

The convict had defrauded one Onoja Usman, Managing Director, Lovonus Trust and Investment Limited, by falsely claiming that he had $130,000.00 (One Hundred and Thirty Thousand Dollars) to sell to him.

He was subsequently arraigned alongside his company, Jayjingo Nigeria Limited on a two-count charge bordering on stealing and obtaining money by false pretence to the tune of N41, 600, 000. 00(Forty-one Million, Six Hundred Thousand Naira) sometime in January 2018.
Count one reads: “That you, Okoro Samuel Uchechukwu and Jayjingo Nigeria Limited, on or about the 10th day of May, 2016 at Lagos, within the Ikeja Judicial Division, dishonestly stole and converted to your own use the sum of N41, 600, 000. 00 (Forty-one Million, Six Hundred Thousand Naira) property of Onoja Usman, Managing Director of Lovonus Trust and Investment Limited and committed an offence contrary to Sections 278 and 285 of the Criminal Law of Lagos State.”

Count Two reads: “That you, Okoro Samuel Uchechukwu and Jayjingo Nigeria Limited, on or about the 10th day of May, 2016 at Lagos, within the Ikeja Judicial Division, with intent to defraud, fraudulently obtained the sum of N41, 600, 000. 00 (Forty-one Million, Six Hundred Thousand Naira) property of Onoja Usman, Managing Director of Lovonus Trust and Investment Limited on the representation that you had $130,000.00 (One Hundred and Thirty Thousand Dollars) to sell to Mr. Onoja Usman, which representations you knew to be false and committed an offence contrary to Sections 1(1) and 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act No. 14 of 2006″.

He pleaded not guilty to the charge, thereby setting the stage for his full trial.

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