COURT CONVICTS COMPANY OVER N21M FRAUD, IMPOSES N100,000 FINE
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By Aishat Momoh. O.
Justice Ismail Ijelu of the Lagos State Special Offences Court sitting in Ikeja has convicted Rahvet International Limited for fraudulently converting the sum of ₦21 million belonging to one Chioma Adeoye.
The conviction followed the arraignment of the company by the Economic and Financial Crimes Commission (EFCC) on an amended one-count charge of stealing, contrary to Section 285(1) of the Criminal Law of Lagos State, 2011.
According to the charge, Rahvet International Limited, sometime in June 2021, within the Ikeja Judicial Division of the High Court of Lagos State, fraudulently converted ₦21 million belonging to Adeoye for its own use. The company pleaded guilty to the offence.
Following the guilty plea, the prosecuting counsel, Anita Imo, called an EFCC operative, Leonard Ayakor, who reviewed the facts of the case. Ayakor told the court that the defendant approached the complainant under the guise of conducting research and induced her to pay money into the company’s bank account.
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He stated that investigations revealed that a total sum of ₦21 million was paid into the defendant’s account and that the money was fully refunded to the complainant during the course of the investigation.
The prosecution tendered the complainant’s petition and the defendant’s statements, which were admitted in evidence and marked as exhibits by the court.
After evaluating the facts of the case and the guilty plea, Justice Ijelu found Rahvet International Limited guilty and convicted the company accordingly.
The court sentenced the company to a fine of ₦100,000, to be paid within 72 hours, noting that full restitution of the ₦21 million had already been made to the complainant through the EFCC.
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